Private solutions to personal protection and property rights often evolve in environments that are weakly institutionalized. In this vein, we examine the effect of private maritime security on international public safety—through the reduction of piracy and its related risks—by analyzing International Maritime Organization vessel security data from 2007 to 2014. We find that private security generates a direct effect on vessel safety, significantly reducing piracy-related risk, but also generating an external effect of private security, whereby as little as 10% of all attacked vessels being privately secured significantly reduces the risk of an attack against unsecured vessels both contemporaneously and in the future. This research contributes to our knowledge of the private provision of public safety by displaying how the risk and uncertainty borne from employing private security can nearly eradicate piracy.

中文翻译：

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私人安全，海上盗版和提供国际公共安全

个人保护和财产权的私人解决方案通常在制度化薄弱的环境中发展。本着这种精神，我们通过分析国际海事组织2007年至2014年的船舶安全数据，研究了私人海事安全对海盗行​​为及其相关风险的降低对国际公共安全的影响。船舶安全，不仅大大降低了与海盗相关的风险，而且还产生了私人安全的外部影响，因此，只有近10％的受攻击船舶是由私人安全固定的，这大大降低了同时期和将来对无担保船舶的攻击风险。