Revenue targeting in fisheries

Nguyen, Quang ORCID: and Leung, PingSun (2013) Revenue targeting in fisheries. Environment and Development Economics, 18 (5) . pp. 559-575. ISSN 1355-770X (doi:10.1017/S1355770X13000144)

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We apply the target revenue model, a version of prospect theory, to investigate how fishermen adjust their trip length to changes in daily revenue. The key finding is that certain groups of fishermen seem more likely to behave according to the target revenue model rather than to the standard model of labor supply. We also find that vessel capacity has little effect on whether the captains seek target revenue. The study strongly supports the integration of prospect theory into the framework of labor supply analysis.

Item Type: Article
Research Areas: A. > Business School > Economics
A. > Business School > International Management and Innovation
Item ID: 15992
Notes on copyright: This article has been published in a revised form in Environment and Development Economics This version is free to view and download for private research and study only. Not for re-distribution, re-sale or use in derivative works. © Cambridge University Press 2013
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Depositing User: Quang Nguyen
Date Deposited: 14 May 2015 10:03
Last Modified: 04 Apr 2019 04:13

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