Pirates and fishermen: Is less patrolling always bad?
AbstractMotivated by the Somali fishermen–pirates, I explore the time allocation decision of potential pirates between piracy and an alternative non-violent occupation, fishing, when the returns of both piracy and fishing are sensitive to patrolling intensity. For a range of parameters, the static model yields multiple equilibria, an “efficient” one with no patrolling and low piracy, a less efficient equilibrium with intermediate levels of both piracy and patrolling and a highly inefficient high-patrolling high-piracy equilibrium. Analyzing the dynamic analogue, I obtain the surprising result that sufficiently low patrolling can be a good strategy.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 81 (2012)
Issue (Month): 1 ()
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Pirates; Fishermen; Patrolling; Multiple equilibria; Policy responses;
Find related papers by JEL classification:
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
- J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
- H40 - Public Economics - - Publicly Provided Goods - - - General
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