Income diversification and risk for fishermen

被引:193
作者
Kasperski, Stephen [1 ]
Holland, Daniel S. [2 ]
机构
[1] NOAA, Alaska Fisheries Sci Ctr, Natl Marine Fisheries Serv, Seattle, WA 98115 USA
[2] NOAA, NW Fisheries Sci Ctr, Natl Marine Fisheries Serv, Natori, Miyagi 98112, Japan
关键词
COMMON PROPERTY; INSURANCE; MANAGEMENT; VARIABILITY; DIVERSITY; PROGRAMS;
D O I
10.1073/pnas.1212278110
中图分类号
O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];
学科分类号
07 ; 0710 ; 09 ;
摘要
Catches and prices from many fisheries exhibit high interannual variability, leading to variability in the income derived by fishery participants. The economic risk posed by this may be mitigated in some cases if individuals participate in several different fisheries, particularly if revenues from those fisheries are uncorrelated or vary asynchronously. We construct indices of gross income diversification from fisheries at the level of individual vessels and find that the income of the current fleet of vessels on the US West Coast and in Alaska is less diverse than at any point in the past 30 y. We also find a dome-shaped relationship between the variability of individuals' income and income diversification, which implies that a small amount of diversification does not reduce income risk but that higher levels of diversification can substantially reduce the variability of income from fishing. Moving from a single fishery strategy to a 50-25-25 split in revenues reduces the expected coefficient of variation of gross revenues between 24% and 65% for the vessels included in this study. The increasing access restrictions in many marine fisheries through license reductions and moratoriums have the potential to limit fishermen's ability to diversify their income risk across multiple fisheries. Catch share programs often result in consolidation initially and may reduce diversification. However, catch share programs also make it feasible for fishermen to build a portfolio of harvest privileges and potentially reduce their income risk. Therefore, catch share programs create both threats and opportunities for fishermen wishing to maintain diversified fishing strategies.
引用
收藏
页码:2076 / 2081
页数:6
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