Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70177
Authors: 
Schubert, Christian
Lades, Leonhard K.
Year of Publication: 
2012
Series/Report no.: 
Jena Economic Research Papers 2012,017
Abstract: 
Piracy in international waters is on the rise again, in particular off the coast of Somalia. While the dynamic game between pirates, ship-owners, insurance firms and the military seems to have reached some kind of equilibrium, piracy risks generating significant negative externalities to third parties (e.g. in terms of environmental hazards and terrorism), justifying attempts to contain it. We argue that these attempts may benefit from a look back - through the analytical lens of public choice theory - to the most successful counter-piracy campaign ever undertaken, namely, the one led by the Roman general Gnaeus Pompeius Magnus (Pompey the Great) in 67 BC.
Subjects: 
Piracy
Somalia
Public Choice Theory
JEL: 
O17
K42
N43
Document Type: 
Working Paper

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