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Spatial Variation In Risk Preferences Among Atlantic And Gulf Of Mexico Pelagic Longline Fishermen

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Author Info
Strand, Ivar E., Jr.
Abstract

This paper shows the effects of spatially aggregating data in an analysis of fishing site choice among Atlantic and Gulf of Mexico longline fishers. Parameter estimates of expected utility, measures of risk, and estimates of welfare losses from area closures are presented. The estimated parameters and the measures of risk aversion indicate some spatial variation. However, the welfare measures from the area closure vary widely between a spatially aggregated model and a disaggregated model. The reason appears to arise from the economic behavior of fishers in New Jersey, where the expected utility model performs poorly.

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File URL: http://purl.umn.edu/28096
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Publisher Info
Article provided by Marine Resources Foundation in its journal Marine Resource Economics.

Volume (Year): 19 (2004)
Issue (Month): 1 ()
Pages:
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Handle: RePEc:ags:mareec:28096

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Related research
Keywords: Resource /Energy Economics and Policy;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Daniel S. Holland & Jon G. Sutinen, 2000. "Location Choice in New England Trawl Fisheries: Old Habits Die Hard," Land Economics, University of Wisconsin Press, vol. 76(1), pages 133-149. [Downloadable!] (restricted)
  2. Eales, James & Wilen, James E., 1986. "An Examination of Fishing Location Choice in the Pink Shrimp Fishery," Marine Resource Economics, Marine Resources Foundation, vol. 2(4). [Downloadable!]
  3. Mistiaen, Johan A & Strand, Ivar E, 2000. " Location Choice of Commercial Fishermen with Heterogeneous Risk Preferences," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 82(5), pages 1184-90. [Downloadable!] (restricted)
  4. Dupont, Diane P., 1993. "Price Uncertainty, Expectations Formation and Fishers' Location Choices," Marine Resource Economics, Marine Resources Foundation, vol. 8(3). [Downloadable!]
  5. Matthew Rabin, 2000. "Risk Aversion and Expected-Utility Theory: A Calibration Theorem," Econometrica, Econometric Society, vol. 68(5), pages 1281-1292, September.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Peruso, Larry & Weldon, Richard N. & Larkin, Sherry L., 2005. "Predicting Optimal Targeting Strategies in Multispecies Fisheries: A Portfolio Approach," Marine Resource Economics, Marine Resources Foundation, vol. 20(1). [Downloadable!]
  2. Eggert, Hakan & Lokina, Razack B., 2007. "Small-scale Fishermen and Risk Preferences," Marine Resource Economics, Marine Resources Foundation, vol. 22(1). [Downloadable!]
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