 A trip to reach the target? РThe labor supply of Swedish Baltic cod fishermenCecilia Hammarlund Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2018, vol. 75, issue C, 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 the targets have been reached. Keywords: Reference dependence; Revenue targets; Discrete choice stopping model; Fisheries (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:75:y:2018:i:c:p:1-11 DOI: 10.1016/j.socec.2018.04.013 Access Statistics for this article Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics) is currently edited by Pablo Bra̱as Garza More articles in Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics) from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.