Book Description from Amazon website
Maritime Piracy and its Control develops an economic approach to the problem of modern-day maritime piracy with the goal of assessing the effectiveness of remedies aimed at reducing the incidence of piracy. Miceli and Hallwood’s theoretical framework is based on a standard Becker-type model of law enforcement, extended to consider the effort level of pirates to locate and attack target vessels, and of shippers to invest in precautions to avoid contact. The model provides the basis for prescribing an optimal enforcement policy whose goal is to minimize the cost of piracy to international shipping. It also serves as a benchmark for evaluating actual enforcement efforts within the context of international law and concludes with several proposals aimed at improving enforcement.
About the Author
Thomas J. Miceli received his PhD in Economics from Brown University, USA, in 1988, and he has been Professor at the University of Connecticut, USA, since 1987. His research is largely in the area of law and economics, with particular emphasis on land use and property law. He is a recognized authority on the economics of eminent domain, a subject on which he has authored or co-authored three books. He has also published undergraduate and graduate level textbooks on law and economics. Currently, he serves as an associate editor for the International Review of Law and Economics. While at UConn, he has taught courses at both the undergraduate and graduate levels in microeconomic theory, urban economics, public finance, and law and economics, and in 2009, he won the Grillo Family Faculty Award for Excellence in Teaching in the Economics Department.