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Private security, maritime piracy and the provision of international public safety

Author

Listed:
  • Gregory DeAngelo

    (Claremont Graduate University)

  • Taylor Leland Smith

    (Texas Tech 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 and its related risks—by analyzing International Maritime Organization vessel security data from 2007 to 2014. We find that private security generates a direct effect on vessel safety, significantly reducing piracy-related risk, but also generating an external effect of private security, whereby as little as 10% of all attacked vessels being privately secured significantly reduces the risk of an attack against unsecured vessels both contemporaneously and in the future. This research contributes to our knowledge of the private provision of public safety by displaying how the risk and uncertainty borne from employing private security can nearly eradicate piracy.

Suggested Citation

  • Gregory DeAngelo & Taylor Leland Smith, 2020. "Private security, maritime piracy and the provision of international public safety," Journal of Risk and Uncertainty, Springer, vol. 60(1), pages 77-97, February.
    • Handle: RePEc:kap:jrisku:v:60:y:2020:i:1:d:10.1007_s11166-020-09323-8
    DOI: 10.1007/s11166-020-09323-8
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    Cited by:

    1. Gregory DeAngelo & Matthew Gomies & Rustam Romaniuc, 2023. "Do civilian complaints against police get punished?," Public Choice, Springer, vol. 196(3), pages 453-482, September.
    2. DeAngelo, Gregory & Gee, Laura K., 2020. "Peers or police?: The effect of choice and type of monitoring in the provision of public goods," Games and Economic Behavior, Elsevier, vol. 123(C), pages 210-227.

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