There's also tragedy of the anticommons. Remember the Vogons from Hitchhiker's Guide To The Galaxy?
Your solution to the wolf problem involves figuring out how to assign ownership to every molecule of air and every rock on the sea floor, the wolf problem is probably easier to solve.
That assumes the wolves would stay on your chunk of land. But of course they wouldn't as their range is typically much larger than any individual property. Privatisation ignores things like ecosystems.
Your solution to the wolf problem involves figuring out how to assign ownership to every molecule of air and every rock on the sea floor, the wolf problem is probably easier to solve.