Definition of "overallocation" [overallocation]

• Excess allocation (noun)

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• "The basin, degraded by drought, state governments' overallocation of water rights and by rising levels of salinity in the soil, an effect of irrigation, generates about 15 billion Australian dollars US$14.7 billion in agricultural produce a year, mostly grains, livestock and fiber."
• "Which other aspect of the economy would one rather see waste and overallocation of resources in, if one assumes that reform will be slow if at all possible?"
• "Because of overallocation, the report said, these 10 companies now have 35 million surplus permits, equivalent to the annual emissions of Latvia and Lithuania."