Events

September 1, 2016 at 4:45 pm

Economics Seminar | Private Security, Maritime Piracy and the Provision of International Public Safety, Sept. 30

The Economics Seminar series presents Dr. Gregory DeAngelo on Sept. 30 at 3 p.m. in the Bentley Annex 302 Conference Room.

They will discuss “Private Security, Maritime Piracy and the Provision of International Public Safety.”

Dr. Gregory DeAngelo

Dr. Gregory DeAngelo

DeAngelo is Assistant Professor of Economics at West Virginia University.

Abstract: Private solutions to personal protection and property rights often evolve in environments that are weakly institutionalized. In this vein, we examine the effect of private maritime security on international public safety – through the reduction of piracy – by analyzing International Maritime Organization vessel security data from 2007 – 2014. We find strong evidence that private security generates a strong direct effect on piracy prevention, significantly decreasing the likelihood that a privately secured vessel is boarded, experiences a hostage situation or is hijacked. Additionally, we observe an external effect of private security, whereby as little as 10 percent of all vessels being privately secured significantly reduces the likelihood of an attack against unsecured vessels both contemporaneously and in the future, resulting in near eradication of piracy. Our work therefore contributes to the literature on the private provision of public goods, noting that the emergence of piracy prevention has been successfully provided through private efforts.

Upcoming Seminars

The seminars are on Fridays from 3 to 4 p.m. in the Bentley Annex 302 Conference Room.

Sept. 23—Cortney Rodet, Ohio University, “Poor Institutions as a Comparative Advantage”

Sept. 30—Gregory DeAngelo, West Virginia University

Oct. 7—Daniel Karney, Ohio University

Oct. 21­—­Phuong Ngo, Cleveland State University

Oct. 28—Yashar Heydari, Ohio University

Nov. 4—Trevon Logan, Ohio State University

Dec. 2—Philipp Lergetporer, Ifo Institute for Economic Research

Jan.  13—Will Neilson,  University of Tennessee

Feb. 17—Nick Dadzie, Ohio University

Feb. 24—Glenn Dutcher, Ohio University

March 3—Luke Fitzpatrick, Ohio University

March 17—Klara Peter, North Carolina—Chapel Hill

March 24—Matt McGill, Ohio University

April 7—Mehrnoush Shahhosseini, University of San Francisco

April 14—Olga Belskaya, Ohio University

April 21—Rania Gihleb, Pittsburgh University

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