Possession

Robert Sugden

Chapter 5 in The Economics of Rights, Co-operation and Welfare, 2005, pp 91-107 from Palgrave Macmillan

Abstract: Abstract When oil and gas reserves were discovered under the North Sea the problem arose of who had the right to exploit them. The potential claimants were nation states.1 Given the power of most nation states to inflict harm on most others, it was important to find some way of dividing up the reserves that would be generally acceptable. In effect, nations were involved in a variant of the division game, but with many players instead of just two.

Keywords: Continental Shelf; White Circle; Geneva Convention; Equal Division; Prominent Relation (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-53679-1_5

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DOI: 10.1057/9780230536791_5

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