Book Description

This book explores the delicate interconnections between law and economics, especially as regards island entitlements under international maritime law. This is an area in the literature generally overlooked because maritime law has been the domain of legal experts. Maritime boundary disputes are over resources, a vitally important economic subject. Yet, the economics of maritime law has been ignored. Lawyers and legal experts have dominated the field, to the alarming degree of causing needless international conflicts. Our monograph addresses this serious neglect. The methodology would be rational behavior model, one specifically formulated to make the case that dialog and negotiation between these countries is the rational choice leading to win-win outcome in the Aegean and Eastern Mediterranean territorial waters. Public and private sector actors identified as key decision-makers in all phases of hydrocarbon development and monetization, within an overall win-win framework.