Quantity vs Quality: Freshness and Fishing Trip Length Public Deposited

http://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/41687k051

Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, held July 11-15, 2016 at Aberdeen Exhibition and Conference Center (AECC), Aberdeen, Scotland, UK.

Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016.

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  • We suggest freshness as a critical factor in determining fishing trip duration. Using daily logbook data from a Japanese-based longline fishery, we find that prices are highly elastic with respect to the freshness of the product, with a 1% decrease in our freshness measure corresponding with a 3.85% decrease in price. The central result of our paper is the effect of freshness on trip length. The result shows that the catch older than 15 days significantly decreases the probability of a trip continuation. Related work has examined the effect of revenues through labor-leisure substitution or behavioral reference-dependent models, but we demonstrate that the price and therefore total revenue is partially determined by the freshness of the product. Our use of daily data resolves the endogeneity present in this related work and identifies the tradeoff between freshness and increased catch, capturing the intra-trip variation that drives the marginal decision to remain at sea or return to port. To the extent of our knowledge, this is the first such study to do so.
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  • 0976343290

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