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Time preference of small-scale fishers in open access and traditionally managed reef fisheries

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  • Teh, Louise S.L.
  • Teh, Lydia C.L.
  • Rashid Sumaila, U.

Abstract

Individuals with high discount rates are likely not partial to conservation because they are unwilling to sacrifice short term benefits for potentially higher gains in the future. Many reef fisheries worldwide are open access, and fishers under open access systems are theorized to discount the future at an infinite rate. In contrast, fishers in a customary managed fishery can be expected to be more long term oriented, and thus possibly have lower discount rates. The present study tests this hypothesis by eliciting the discount rates of fishers in an open access small-scale reef fishery, and compares these rates to those of fishers in a customary managed reef fishery. Results indicate that fishers in both open access and traditionally managed reef fisheries have high annual discount rates that are on average over 200%. Contrary to expectations, fishers under an open access system are not associated with higher discount rates compared to customary management. It also appears that a larger proportion of open access fishers are more long-term oriented than those in the customary managed fishery, which is encouraging for the future conservation and sustainability of open access fisheries resources.

Suggested Citation

  • Teh, Louise S.L. & Teh, Lydia C.L. & Rashid Sumaila, U., 2014. "Time preference of small-scale fishers in open access and traditionally managed reef fisheries," Marine Policy, Elsevier, vol. 44(C), pages 222-231.
  • Handle: RePEc:eee:marpol:v:44:y:2014:i:c:p:222-231
    DOI: 10.1016/j.marpol.2013.08.028
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    2. Thomas A Oliver & Kirsten L L Oleson & Hajanaina Ratsimbazafy & Daniel Raberinary & Sophie Benbow & Alasdair Harris, 2015. "Positive Catch & Economic Benefits of Periodic Octopus Fishery Closures: Do Effective, Narrowly Targeted Actions ‘Catalyze’ Broader Management?," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-24, June.
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    4. Steven Rust & Sarah Jennings & Satoshi Yamazaki, 2016. "Excess Capacity and Capital Malleability in a Fishery with Myopic Expectations," Marine Resource Economics, University of Chicago Press, vol. 31(1), pages 63-81.
    5. Mwangi, Magdalene Mutumi & Ritho, Cecilia Nyawira & Willy, Daniel Kyalo & Guthiga, Paul Maina, 2017. "Factors Influencing Resource Use Behavior In Ewaso Narok Wetland, Kenya," Dissertations and Theses 269531, University of Nairobi, Department of Agricultural Economics.
    6. Alló, Maria & Loureiro, Maria L., 2018. "The impact of illegal harvesting on time preferences and willingness to participate in shellfish resource management," Resource and Energy Economics, Elsevier, vol. 54(C), pages 226-236.
    7. Oleson, Kirsten L.L. & Barnes, Michele & Brander, Luke M. & Oliver, Thomas A. & van Beek, Ingrid & Zafindrasilivonona, Bienvenue & van Beukering, Pieter, 2015. "Cultural bequest values for ecosystem service flows among indigenous fishers: A discrete choice experiment validated with mixed methods," Ecological Economics, Elsevier, vol. 114(C), pages 104-116.
    8. Aneeque Javaid & Micaela M Kulesz & Achim Schlüter & Alexandra Ghosh & Narriman S Jiddawi, 2016. "Time Preferences and Natural Resource Extraction Behavior: An Experimental Study from Artisanal Fisheries in Zanzibar," PLOS ONE, Public Library of Science, vol. 11(12), pages 1-14, December.

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