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A trip to reach the target? : The labor supply of Swedish Baltic cod fishermen

Hammarlund, Cecilia LU (2018) In Journal of Behavioral and Experimental Economics 75. p.1-11
Abstract
This paper uses logbook data from Swedish Baltic Sea cod trawlers to investigate the revenue target hypothesis. Incomes from fishing can be highly variable and difficult to predict and it is possible that fishermen set specific revenue targets for their fishing trips to simplify decision making. In this paper a discrete choice stopping model is used where the fishermen must decide to stop or continue fishing after each haul. At average trip length, the results indicate that when revenues are higher than expected, fishermen are more likely to return to port. This is in line with the revenue target hypothesis. When using estimated revenue targets the results suggest that the effect of getting higher revenues than expected is stronger when... (More)
This paper uses logbook data from Swedish Baltic Sea cod trawlers to investigate the revenue target hypothesis. Incomes from fishing can be highly variable and difficult to predict and it is possible that fishermen set specific revenue targets for their fishing trips to simplify decision making. In this paper a discrete choice stopping model is used where the fishermen must decide to stop or continue fishing after each haul. At average trip length, the results indicate that when revenues are higher than expected, fishermen are more likely to return to port. This is in line with the revenue target hypothesis. When using estimated revenue targets the results suggest that the effect of getting higher revenues than expected is stronger when the targets have been reached. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Journal of Behavioral and Experimental Economics
volume
75
pages
11 pages
publisher
Elsevier
external identifiers
  • scopus:85047005786
ISSN
2214-8043
DOI
10.1016/j.socec.2018.04.013
language
English
LU publication?
yes
id
43bf4f07-b229-4814-9b8e-08f2d3fb8f06
date added to LUP
2018-09-17 11:15:27
date last changed
2019-01-06 14:05:11
@article{43bf4f07-b229-4814-9b8e-08f2d3fb8f06,
  abstract     = {This paper uses logbook data from Swedish Baltic Sea cod trawlers to investigate the revenue target hypothesis. Incomes from fishing can be highly variable and difficult to predict and it is possible that fishermen set specific revenue targets for their fishing trips to simplify decision making. In this paper a discrete choice stopping model is used where the fishermen must decide to stop or continue fishing after each haul. At average trip length, the results indicate that when revenues are higher than expected, fishermen are more likely to return to port. This is in line with the revenue target hypothesis. When using estimated revenue targets the results suggest that the effect of getting higher revenues than expected is stronger when the targets have been reached.},
  author       = {Hammarlund, Cecilia},
  issn         = {2214-8043},
  language     = {eng},
  month        = {08},
  pages        = {1--11},
  publisher    = {Elsevier},
  series       = {Journal of Behavioral and Experimental Economics},
  title        = {A trip to reach the target? : The labor supply of Swedish Baltic cod fishermen},
  url          = {http://dx.doi.org/10.1016/j.socec.2018.04.013},
  volume       = {75},
  year         = {2018},
}