How to Tackle the Gulf of Aden Buccaneers
The surge of maritime piracy in the Gulf of Aden is often related to lawlessness and poverty in Somalia. We set up a simple model to describe the choice of becoming a pirate in a setting with an industrialized and a developing country which both engage in fishing in the same waters. As a result of fishing competition, maritime piracy as an alternative to fishing becomes more attractive in the developing country. We further investigate possible measures for the industrialized country to deal with piracy.
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- Maximo Mejia & Pierre Cariou & Francois-Charles Wolff, 2009. "Is maritime piracy random?," Applied Economics Letters, Taylor & Francis Journals, vol. 16(9), pages 891-895.
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