Leeson, Peter T.; Nowrasteh, Alex - In: Journal of Economic Behavior & Organization 79 (2011) 3, pp. 303-317
This paper argues that when contracts between enemies are enforceable and transaction costs are low, plunderers and their victims benefit from trade that facilitates the former's ability to plunder the latter. Coasean "plunder contracts" transform part of plunder's social costs into private...