Keywords: environmental pollution, optimisation, policy measures, principal agency, oil spills, environmental accidents, marine pollution, pollution control
Stochastic models of oil spill processes
This paper models the occurrence of an environmental accident as a stochastic event. In particular, the situation of an oil spill is explored. Characteristics of the ship operator, and the different types of the ship's operating environment determine a stochastic process governing the time patterns and size of spills. It is shown that both the time distribution of different types of oil spill and the distribution of spill size are affected by pollution control instruments such as fines, by enforcement effort, and by the alert level of the operating personnel.