Are Commercial Fishers Risk Lovers?
| dc.contributor.author | Martinsson, Peter | swe |
| dc.contributor.author | Eggert, Håkan | swe |
| dc.contributor.department | Department of Economics | swe |
| dc.date.accessioned | 2006-12-13 | swe |
| dc.date.accessioned | 2007-02-09T11:15:50Z | |
| dc.date.available | 2007-02-09T11:15:50Z | |
| dc.date.issued | 2003 | swe |
| dc.description.abstract | Empirical studies of fishers’ preferences have found that most fishers are risk-averse, while expected-utility theory predicts risk neutrality even for sizable stakes. We test this prediction using data from a stated choice experiment with Swedish commercial fishers. Our results show that almost 90% of the respondents do not behave as expected-utility maximizers. 48% of the fishers can be broadly characterized as risk-neutral, 26% as modestly risk-averse, while 26% are strongly risk-averse. Fishers are more risk-neutral the higher the fraction of their household’s income comes from fishing, while fishers with a positive attitude to individual quotas are more risk-averse. Sensitivity testing implies that decisions with modest stakes like a few days of fishing are not influenced by wealth level. | swe |
| dc.format.extent | 25 pages | swe |
| dc.format.extent | 387540 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.gup.epcid | 2629 | swe |
| dc.gup.origin | Göteborg University. School of Business, Economics and Law | swe |
| dc.identifier.issn | 1403-2465 | swe |
| dc.identifier.uri | http://hdl.handle.net/2077/2811 | |
| dc.language.iso | en | swe |
| dc.relation.ispartofseries | Working Papers in Economics, nr 90 | swe |
| dc.subject | Expected utility; Prospect theory; Risk preferences; Stated preferences; Swedish fisheries | swe |
| dc.subject.svep | Economics | swe |
| dc.title | Are Commercial Fishers Risk Lovers? | swe |
| dc.type.svep | Report | swe |
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