Estimating input demand and output supply elasticities in gillnet and seine fishing in Guimaras Strait [Guimaras, Philippines] and adjacent waters
1999
Pestano, M.C.T. | Subade, R.F. (Philippines Univ. in the Visayas, Miag-ao, Iloilo (Philippines). Coll. of Arts and Sciences)
The input demand and output supply elasticities were estimated for seine and gillnet fishing in Guimaras Strait using the profit function approach. A profit function with three variable input prices (price of labor, fuel and crew provisions) and two fixed factors (gross tonnage and mesh size), was estimated for each fishing gear group, seine and gillnet. Both the OLS [ordinary least square] and the Seemingly Unrelated Regression (SUR) techniques were used in the profit function estimation. The parameter estimates from SUR were used to compute demand and supply elasticities. Profit maximizing hypotheses were tested for both seine and gillnet and were both rejected which implied inefficiency in the use of the fishery resource. For both seines and gillnets, the own-price elasticity coefficients and output elasticity coefficients with respect to the price of fish were unexpected negative. Most estimated coefficients suggested that Guimaras Strait and adjacent waters were both economically and biologically overfished
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