Analyzing the Limits of Simple Economic Models
An economist models a common-pool resource problem using a scenario with just two identical fishing boats. The model concludes that both boats, acting independently to maximize their own catch, will overfish and deplete the entire fish stock. When considering a real-world fishery with over one hundred boats of varying sizes and technologies, explain one critical reason why the simple two-boat model's specific outcome of total resource collapse might not be the guaranteed result in the more complex, real-world scenario.
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