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 sovereign powers, and individual users of ocean space.

Paul Hallwood is Professor of Economics at the University of Connecticut, USA.

Part I: Introduction 1. Ocean Resources, Ocean Governance Part II: Historic Wrecks, Modern Pirates 2. Economic Analysis of Legal Regimes Governing Salvage of Historic Shipwrecks 3. The Economics of Maritime Piracy 4. Maritime Piracy and International Law Part III: Enclosure 5. Enclosure of the Oceans 6. An Economic Analysis of Drawing Lines in the Sea 7. Division of Economic Rents in the Timor Gap Part IV: Fisheries Economics 8. Economics of the Fishery 9. Management of Fish Stocks Part V: Fisheries Regime Formation 10. Impatience, Ecology and Fisheries Regime Formation 11. International Negotiations 12. Preponderant Actors and the Bargaining Game 13. Managing High Seas Fisheries 14. How and Why to Make a Fishery Treaty Ineffective Part VI: Marine Mammals 15. Whales Part VII: Coral Reefs, Marine Protected Areas, Wetlands 16. Coral Reef Economics 17. Marine Protected Areas, Optimal Policing and Optimal Rent Dissipation 18. Contractual Difficulties in Environmental Management: The case of wetland mitigation banking Part VIII: Pollution 19. Oceans and Non-Point Source Pollution 20. Oil Pollution from Ships Part IX: Minerals 21. Taxing Offshore Oil and Gas 22. US Royalty Relief, Rent Sharing and Offshore Oil Production 23. Deep Sea Mining