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首页> 外文期刊>Journal of the Association of Environmental and Resource Economists >Risk Preferences and Compliance in Recreational Fisheries
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Risk Preferences and Compliance in Recreational Fisheries

机译：休闲渔业的风险偏好和合规性

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This paper studies the returns on the allocation of harvest to the recreational sector when anglers exhibit risk aversion for random catch. By using data from choice experiments that explicitly introduce uncertainty in harvest as a trip attribute, we specify and estimate different models of constant absolute risk aversion (CARA). With evidence that anglers exhibit disutility from randomness in the catch, we use our estimates to draw comparisons with standard linear models. We calibrate a model of the Northeast Region summer flounder fishery and run Monte Carlo experiments to simulate alternative policy strategies for enforcing the recreational total allowable catch (TAC). Our results show that risk aversion leads to different predictions on angler participation and welfare from those assuming risk neutrality. Unlike the case of risk neutrality, the same TAC enforced with different catch restrictions and season lengths results in different numbers of expected trips and welfare estimates under CARA preferences. It is the entire catch distribution rather than the mean catch that determines anglers' behavior and implied values. Under risk aversion for random catch, regulators may also find enforcement of harvest restrictions to be less costly. More broadly, our approach provides a consistent way to incorporate risk in quality attributes into the discrete choice framework that is pervasive in the literature on recreational demand modeling.
机译：当钓鱼者表现出对随机捕获的风险厌恶时，本文研究了收获分配给娱乐部门的回报。通过使用选择实验中明确引入收获不确定性作为出行属性的数据，我们指定并估算了恒定绝对风险规避（CARA）的不同模型。有证据表明钓鱼者对渔获物的随机性没有用，我们用我们的估计值与标准线性模型进行比较。我们校准了东北地区夏季比目鱼捕捞的模型，并进行了蒙特卡洛实验，以模拟替代政策策略来实施娱乐性总允许捕捞量（TAC）。我们的结果表明，风险规避与那些假设风险中立的人对钓鱼者的参与和福利有不同的预测。与风险中立的情况不同，在不同的捕捞限制和季节长度下实施的同一TAC会根据CARA偏好产生不同的预期旅行次数和福利估计。决定钓鱼者行为和隐含值的是整个渔获物分布而不是平均渔获量。在针对随机捕获的风险规避下，监管机构也可能会发现实施收获限制的成本较低。更广泛地说，我们的方法提供了一种一致的方法，可以将质量属性中的风险纳入离散选择框架中，该框架普遍存在于娱乐需求建模的文献中。

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