The Economics of Oil Spills

Vessel oil spills are very serious natural hazards that have affected coasts worldwide for many decades. Although oil spills from tankers are highly publicized, very little is known about the role played by the incentives and the regulatory instruments in place to prevent them. In this article, worldwide collected data on large oil spills from multiple databases over the last 45 years are presented and merged with other socio-economic records.

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