Economics of the Oceans: Rights, Rents and Resources

Synopsis

This Book Provides A Comprehensive Introduction To The Economic Uses Of Oceanic Resources, The Rights To Exploit Them And The Division Of The Economic Rents, Or Surpluses, Between, At One Level, Sovereign Powers, And At Another Between Individual Users That Use Ocean Space.oceanic Resources Are Diverse. Offshore Oil Deposits Are The Most Valuable Oceanic Resource Measured By The Dollar Value Of Annual Production But Other Mineral Resources Including Manganese, Shale And Sand Are Also Important Along With Marine Mammal Resources, Fisheries And Sea Birds.the Laying Of Submarine Cables, Regulation Of Shipping, International Economic Law And Pollution Are All Factors That Impinge Upon These Resources And The Author Meticulously Underlines How These Competing Interests Interact With One Another. An Appendix Providing A Grounding In Microeconomic Theory Helps Illuminate The Extremely Diverse Subject Matter-- It Is An Unfortunate Truth That Our Oceans Offer Valuable Resources That Are Too Often Used Unsustainably. Time And Again This Is Due To The Failure Of International Law To Provide A Framework For Adequate Governance. Economics Of The Oceans Examines This Issue And Provides A Comprehensive Study Of Ocean Uses From The Perspectives Of Law And Economics. Themes Covered In The Book Include Ocean Governance, The Economics Of Oceanic Resource Exploitation, Offshore Oil, Coral Reefs, Shipwrecks And Maritime Piracy. Analytical Techniques Such As Basic Game Theory, Environmental Economics Of The Commons And Cost-benefit Analysis Are Employed To Illuminate The Topics. This Book Will Be Of Interest To Students Of Environmental Economics And Natural Resource Management-- Ocean Resources, Ocean Governance -- Economic Analysis Of Legal Regimes Governing Salvage Of Historic Shipwrecks -- The Economics Of Maritime Piracy -- Maritime Piracy And International Law -- Enclosure Of The Oceans -- An Economic Analysis Of Drawing Lines In The Sea -- Division Of Economic Rents In The Timor Gap -- Economics Of The Fishery -- Management Of Fish Stocks -- Impatience, Ecology And Fisheries Regime Formation -- International Negotiations -- Preponderant Actors And The Bargaining Game -- Managing High Seas Fisheries -- How And Why To Make A Fishery Treaty Ineffective -- Whales Part -- Coral Reef Economics -- Marine Protected Areas, Optimal Policing And Optimal Rent Dissipation -- Contractual Difficulties In Environmental Management : The Case Of Wetland Mitigation Banking -- Oceans And Non-point Source Pollution -- Oil Pollution From Ships -- Taxing Offshore Oil And Gas -- Us Royalty Relief, Rent Sharing And Offshore Oil Production -- Deep Sea Mining. Paul Hallwood. Includes Bibliographical References (pages 269-284) And Index.