Journal article
Is piracy sustainable?
Abstract
Abstract We develop a model of international trade between three countries, one of which hosts pirates. When the number of pirate ships increases, the probability for one of the pirate ships (for one commercial ship) encountering a commercial (pirate) ship decreases (increases). Then, the commercial ships have an incentive to spend more on defence and pirate ships to invest less on attack. If pirates operate under free entry, they do not …
Authors
Chan KS; Laffargue J
Journal
Canadian Journal of Economics/Revue canadienne d économique, Vol. 53, No. 1, pp. 321–340
Publisher
Wiley
Publication Date
2 2020
DOI
10.1111/caje.12427
ISSN
0008-4085