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

Quang Duc Nguyen ()

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Experimental Economics; Prospect Theory; Hyperbolic Discounting; Risk Behavior; Vietnam fishermen (search for similar items in EconPapers)
JEL-codes: D81 C93 Q22 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-exp and nep-upt
Date: Written
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