Schools of Fishermen: A Theory of Information Sharing in Spatial Search
Fishermen who compete for a resource in an open access setting generally do not share information amongst each other about where stocks are located. On the other hand, in fisheries where there are established property rights or fishing cooperatives, fishermen tend to share information with each other. Recent work in developing spatial models of fishermen behavior has generally ignored the effect that sharing information about where stocks are located can have. We develop a behavioral model of search amongst spatial resource harvesters that allows for varying degrees of information sharing. We demonstrate that informational cascades may lead to extremely inefficient spatial search by fishermen that do not share information and that this inefficiency may be persistent over time. We define a new parameter, information-dependent catchability, which captures the degree to which information sharing improves the efficiency of spatial search. We argue that institutions change the incentives to share information; information-dependent catchability will differ within a fishery depending on the specific management institutions adopted. This leads to theoretical predictions which depart from standard models but account for a wider range of field observations. In particular, we derive the conditions under which closing access to a fishery would have such a drastic impact on the incentives to share information (and hence, the efficiency of search) that total effort in the fishery will be unaffected by restricting access. We derive the equivalent conditions for steady state harvest and stock levels. Furthermore, we make an important distinction between Property Rights Rents and Information Sharing Rents (economic rents that can be attributed solely to changes in information-sharing). The shiroebi shrimp fishery in Shinminato, Japan provides an ideal natural experiment to test the impact of information sharing. Field observations from this fishery strongly accord with the predictions of the model presented in this paper.
|Date of creation:||2006|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.orgEmail:
More information through EDIRC
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.:
- Sanchirico, James N. & Wilen, James E., 1999. "Bioeconomics of Spatial Exploitation in a Patchy Environment," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 129-150, March.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992.
"A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades,"
Journal of Political Economy,
University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Jeffrey Carpenter & Erika Seki, 2011.
"Do Social Preferences Increase Productivity? Field Experimental Evidence From Fishermen In Toyama Bay,"
Western Economic Association International, vol. 49(2), pages 612-630, 04.
- Carpenter, Jeffrey P. & Seki, Erika, 2005. "Do Social Preferences Increase Productivity? Field Experimental Evidence from Fishermen in Toyama Bay," IZA Discussion Papers 1697, Institute for the Study of Labor (IZA).
- Jeffrey Carpenter & Erika Seki, 2005. "Do Social PreferencesIncrease Productivity? Field experimental evidence from fishermen in Toyoma Bay," Middlebury College Working Paper Series 0515, Middlebury College, Department of Economics.
- Seki, E. & Platteau, J.P., 1998. "Coordination and Pooling Arrangements in Japanese Coastal Fisheries," Papers 208, Notre-Dame de la Paix, Sciences Economiques et Sociales.
- H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
- Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August.
When requesting a correction, please mention this item's handle: RePEc:ags:aaea06:21442. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.