The situation that you mentioned with the cod fits the "tragedy of the commons" scenario. Where property rights are hard to define, resources are over-extracted

The situation that you mentioned with the cod fits the "tragedy of the commons" scenario. Where property rights are hard to define, resources are over-extracted because there is no owner with the incentive to conserve. I challenge you to name one resource with normal property rights that fits the "diagonal line/cliff" scenario. I know of none, although it appears to be the common wisdom of the internet at the moment.