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Testing Theoretical Explanations for Investment Behaviour in the Dutch Beam Trawler Fishery in the North Sea

Author

Listed:
  • Frank Jensen

    (Department of Food and Resource Economics, University of Copenhagen)

  • Christian Elleby

    (Department of Food and Resource Economics, University of Copenhagen)

  • Katell G. Hamon

    (Wageningen Economic Research)

  • Jos op de Weegh

    (Wageningen Economic Research)

Abstract

In this study, we investigate whether neoclassical economic theory, capital market frictions or preference-based theory can explain investment behaviour in the Dutch beam trawler fishery in the North Sea. By presenting a number of estimations, we show that vessels conducting pulse fishing invest substantially more than similar vessels undertaking conventional fishing, even after controlling for differences in such variables as capital stock, prices, profits and quotas. One possible explanation for this result is that vessel owners may obtain a separate benefit from investing in pulse fishing.

Suggested Citation

  • Frank Jensen & Christian Elleby & Katell G. Hamon & Jos op de Weegh, 2018. "Testing Theoretical Explanations for Investment Behaviour in the Dutch Beam Trawler Fishery in the North Sea," IFRO Working Paper 2018/04, University of Copenhagen, Department of Food and Resource Economics.
    • Handle: RePEc:foi:wpaper:2018_04
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    File URL: http://okonomi.foi.dk/workingpapers/WPpdf/WP2018/IFRO_WP_2018_04.pdf
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    Keywords

    Fisheries; Investments; Conventional Fishing; Pulse Fishing;
    All these keywords.

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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