When Patience Leads to Destruction: The Curious Case of Individual Time Preferences and the Adoption of Destructive Fishing Gears

Aneeque Javaid, Marco A. Janssen, Hauke Reuter and Achim Schlüter

Ecological Economics, 2017, vol. 142, issue C, 91-103

Abstract: The use of destructive fishing methods is a serious problem, especially for tropical and developing countries. Due to inter temporal nature of fisheries extraction activities, standard economic theory suggests that an individual's time preference can play a major role in determining the gear choice decision. Based on earlier theoretical work we identify two ways in which individual time preferences can impact the adoption of destructive extraction methods; (i) the conservation effect which posits that patient individuals (as indicated by relatively high discount factor) are less likely to use destructive extraction methods since they are more likely to account for the loss of future income that is accompanied by using these methods, (ii) the disinvestment effect which argues that patient individuals are more likely to use destructive extraction methods since they have greater investment capability.

Keywords: Individual Time Preferences; Time Discounting; Natural Resource Extraction; Fisheries; Destructive Fishing Methods; Agent Based Modeling (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:142:y:2017:i:c:p:91-103

DOI: 10.1016/j.ecolecon.2017.06.007

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