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Do fishermen have different preferences?: Insights from an experimental study and household data

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  • Nguyen, Quang

Abstract

We combine an artefactual field experiments and household survey data to investigate whether involvement in a unique occupation such as fishery makes the fishermen exhibit different risk and time preferences than those in other occupations. Using a structural model approach, we integrate prospect theory and hyperbolic time discounting into a single framework to simultaneously estimate and correlate the parameters of both risk and time preferences with other demographic variables. The key finding is that fishermen are found to be less risk-averse and more patient than others.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16012.

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Date of creation: 01 Jul 2009
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Handle: RePEc:pra:mprapa:16012

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Keywords: Experimental Economics; Prospect Theory; Hyperbolic Discounting; Risk Behavior; Vietnam fishermen;

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Citations

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Cited by:
  1. Kerri Brick & Martine Visser & Justine Burns, 2012. "Risk Aversion: Experimental Evidence from South African Fishing Communities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(1), pages 133-152.
  2. Loheac, Youenn & Combris, Pierre & Issancou, Sylvie, 2010. "Food Decision, Information And Personality," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116434, European Association of Agricultural Economists & Agricultural and Applied Economics Association.
  3. Bocqueho, Geraldine & Jacquet, Florence & Reynaud, Arnaud, 2011. "Expected Utility or Prospect Theory Maximizers? Results from a Structural Model based on Field-experiment Data," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114257, European Association of Agricultural Economists.
  4. Louise S. L. Teh & Lydia C. L. Teh & U. Rashid Sumaila, 2011. "Low Discounting Behavior among Small-Scale Fishers in Fiji and Sabah, Malaysia," Sustainability, MDPI, Open Access Journal, vol. 3(6), pages 897-913, June.
  5. Sundar, B. & Virmani, Vineet, . "“Impatience” of Forest Dependent Communities - Evidence from Andhra Pradesh," IIMA Working Papers WP2013-12-02, Indian Institute of Management Ahmedabad, Research and Publication Department.

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