publication . Preprint . 2011

The Law and Economics of International Cooperation Against Maritime Piracy

Paul Hallwood; Thomas J. Miceli;
Open Access
  • Published: 01 Jun 2011
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.
free text keywords: International law, law enforcement, maritime piracy, jel:K14, jel:K33
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