Coase-Sandor Working Paper Series in Law and Economics
Publication Date
2009
Publication Title
Law & Economics Working Papers
Abstract
The United Nations Convention on the Law of the Sea has a plausible economic logic. Jurisdiction over portions of the ocean is assigned to states which can regulate them most cheaply and value them the most. These jurisdictional rights are subject to limits that reflect the interests of other states in navigation and other uses of the seas. For the vast areas of the ocean that no state can regulate, the Convention provides for an open access regime subject to simple rules, mostly self-enforcing, to limit conflict over resources.
Number
504
Recommended Citation
Alan O. Sykes & Eric Posner, "Economic Foundations of the Law of the Sea" (John M. Olin Program in Law and Economics Working Paper No. 504, 2009).
Additional Information
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