Aug 3, 2009

The economics of Somali piracy

7/28 Wired

For his story on the economics of Somali piracy, Wired contributing editor Scott Carney spoke to one of the ocean-going hijackers. They talked about how to negotiate a ransom, when to kill a hostage and how to avoid the Navy. Here’s the uncut version of that interview.

This bit will please defenders of rational choice theory:

Under what conditions would you kill the hostages?

Hostages — especially Westerners — are our only assets, so we try our best to avoid killing them. It only comes to that if they refuse to contact the ship’s owners or agencies. Or if they attack us and we need to defend ourselves.

(Thanks to David for the pointer.)