Why does the market for black rhinos create incentives that are different than other markets? How can these incentives be changed?
The market for black rhinos creates incentives that are different than other markets because of the extremely low supply for a very high demand. Black rhinos are an endangered species and keep getting killed because their horns are a sign of good luck and healing. This is different than other markets because these rhinos cannot simply be mass produced or go to a factory to be duplicated. They are animals in the wild and there are very few left. Once they are all gone, they are gone and there is no way to get more of these horns. The incentives are very high to get these rhino horns because people are willing to pay a high amount for them.
The incentives could be changed by allowing a rhino rancher to collect of of these animals that he can get in order to preserve them. Once the number count is up, there will be more horns to sell and therefore, the animal will not go extinct, and more people will be able to get a horn.
You seem to have a basic understanding of the incentives that lead to destruction of the black rhino.
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