This book explores the delicate interconnections between law and economics, especially as regards island entitlements under international maritime law. This is an area in the literature generally overlooked because maritime law has been the domain of legal experts. Maritime boundary disputes are over resources, a vitally important economic subject. Yet, the economics of maritime law has been ignored. Lawyers and legal experts have dominated the field, to the alarming degree of causing needless international conflicts. Our monograph addresses this serious neglect. The methodology would be rational behavior model, one specifically formulated to make the case that dialog and negotiation between these countries is the rational choice leading to win-win outcome in the Aegean and Eastern Mediterranean territorial waters. Public and private sector actors identified as key decision-makers in all phases of hydrocarbon development and monetization, within an overall win-win framework.

-The Economics of Sovereignty in Small Islands – Vedat Yorucu, Ozay Mehmet 1-11

-Small Greek Islands of the Aegean, Turkish Continental Shelf: Legal Precedent and Procedure in Maritime Conflict Resolution – Vedat Yorucu, Ozay Mehmet 13-33

-Cyprus: Hydrocarbons in a Divided Island – Vedat Yorucu, Ozay Mehmet 35-51

-International Evidence in Maritime Dispute Settlement in Small Islands: Problems with UNCLOS – Vedat Yorucu, Ozay Mehmet 53-82

-Can the EU Be an Honest Broker in Greek–Turkish Relations? – Vedat Yorucu, Ozay Mehmet 83-95

-Greek–Turkish Energy Cooperation: Some Future Scenarios – Vedat Yorucu, Ozay Mehmet 97-106

-Wider Energy Cooperation: Prospects in Greece, Turkey, Cyprus, and the Region – Vedat Yorucu, Ozay Mehmet 107-121

-TANAP and TAP: A Case of Turkish–Greek Energy Cooperation – Vedat Yorucu, Ozay Mehmet 123-146

-Energy Hubs: Models and Options – Vedat Yorucu, Ozay Mehmet 147-167

-Conclusion – Vedat Yorucu, Ozay Mehmet 169-176

-Back Matter 177-178