Routledge Economics of the Oceans: Rights, Rents and Resources

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, natural resource economics and management, and the economics of international law as relating to the oceans. Review 'This unique study combines ecological concepts and neoclassical economic models with case studies to analyze critical problems relating to the oceans.  Using the perspectives  oflaw and economics, Hallwood (Univ. of Connecticut) provides both historical context and a discussion of how conflict resolution institutions may help solve problems pertaining to oceans. This book will interest students of environmental economics, natural resource economics and management, and the economics of international law.Summing Up: Highly recommended.' ― B. F. Hope, emeritus, California State  University, for CHOICE 'Finally a textbook that covers more than just fisheries! This is the perfect companion for the growing number of courses focused on how society uses and abuses the scarce resources of the ocean' ― John Lynham, University of Hawaii at Manoa, USA About the Author Paul Hallwood is Professor of Economics at the University of Connecticut, USA.