The Law and Economics of International Cooperation Against Maritime Piracy
Article 100 of the U.N. Convention on the Law of the Sea requires signatories to “cooperate” against maritime piracy, but “cooperate” is undefined. Enforcement is a public good – creating uncompensated benefits for others, so suffering from free-rider problems. Our analysis readily explains why more pirates captured are released than prosecuted; why the U.N. and International Maritime Organization are seeking to reduce enforcement costs; why some in the shipping industry want to apply the 1988 Convention against terrorism at sea; and why still others want to move prosecution of pirates out of national courts to an international court.
|Date of creation:||Jun 2011|
|Contact details of provider:|| Postal: University of Connecticut 365 Fairfield Way, Unit 1063 Storrs, CT 06269-1063|
Phone: (860) 486-4889
Fax: (860) 486-4463
Web page: http://www.econ.uconn.edu/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:uct:uconnp:2011-12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark McConnel)
If references are entirely missing, you can add them using this form.