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Labor Supply of Fishermen: An Empirical Analysis

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  • Stafford, Tess

Abstract

When income effects are small, standard life-cycle models of labor supply predict a positive response in hours worked to increases in remuneration. However, several re- cent studies have found negative wage elasticities, casting doubt on the standard labor supply model. This paper aims to resolve some of this controversy by examining the responsiveness of the daily labor supply of fishermen to transitory variations in the wage using rich data from the Florida spiny lobster fishery. The data include complete records of all fishing trips made by Florida lobster fishermen over a twenty-year period and include two measures of effort - hours at sea and, when relevant, number of traps pulled - which makes it possible to look at the intensive labor supply margin in addition to the extensive margin. Results suggest that the wage elasticity of labor supply (par- ticipation) is positive and statistically different from zero, with a range of 1.05 to 1.31 for commercial trappers and 0.76 to 1.82 for commercial divers. Results also suggest that the wage elasticity of hours worked is positive and statistically different from zero, although quite small for trappers. Specifically, the elasticity ranges from 0.06 to 0.09 for trappers and 0.82 to 0.94 for divers. Although I do not specifically test a model of reference dependent preferences, these results support the standard neoclassical model of intertemporal substitution.

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Bibliographic Info

Paper provided by Australian Agricultural and Resource Economics Society in its series 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia with number 124450.

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Date of creation: 2012
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Handle: RePEc:ags:aare12:124450

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Keywords: Labor and Human Capital;

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  1. Henry S. Farber, 2008. "Reference-Dependent Preferences and Labor Supply: The Case of New York City Taxi Drivers," American Economic Review, American Economic Association, vol. 98(3), pages 1069-82, June.
  2. Henry S. Farber, 2005. "Is Tomorrow Another Day? The Labor Supply of New York City Cabdrivers," Journal of Political Economy, University of Chicago Press, vol. 113(1), pages 46-82, February.
  3. Joseph Altonji, 1984. "Intertemporal Substitution in Labor Supply: Evidence from Micro Data," Working Papers 562, Princeton University, Department of Economics, Industrial Relations Section..
  4. Ernst Fehr & Lorenz Götte, 2005. "Do Workers Work More if Wages are High? Evidence from a Randomized Field Experiment," IEW - Working Papers 125, Institute for Empirical Research in Economics - University of Zurich.
  5. Browning, Martin & Deaton, Angus & Irish, Margaret, 1985. "A Profitable Approach to Labor Supply and Commodity Demands over the Life-Cycle," Econometrica, Econometric Society, vol. 53(3), pages 503-43, May.
  6. MaCurdy, Thomas E, 1981. "An Empirical Model of Labor Supply in a Life-Cycle Setting," Journal of Political Economy, University of Chicago Press, vol. 89(6), pages 1059-85, December.
  7. Gerald S. Oettinger, 1999. "An Empirical Analysis of the Daily Labor Supply of Stadium Vendors," Journal of Political Economy, University of Chicago Press, vol. 107(2), pages 360-392, April.
  8. Camerer, Colin & Babcock, Linda & Loewenstein, George & Thaler, Richard, 1996. "Labor Supply of New York City Cab Drivers: One Day At A time," Working Papers 960, California Institute of Technology, Division of the Humanities and Social Sciences.
  9. Weitzman, Martin L., 2002. "Landing Fees vs Harvest Quotas with Uncertain Fish Stocks," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 325-338, March.
  10. Gautam, Amy Buss & Strand+, Ivar & Kirkley++, James, 1996. "Leisure/Labor Tradeoffs: The Backward-Bending Labor Supply in Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 352-367, November.
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