Groot, Olaf J. de; Rablen, Matthew D.; Shortland, Anja - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
Ransoms paid to Somali pirates are drifting upward and negotiation times are increasing, yet there is huge variation in bargaining outcomes across shipowners. We use a unique dataset of 179 Somali hijackings, and an underlying theoretical model of the bargaining process based on detailed...