Are fishers profit maximizers? the case of gillnetters in Negros Occidental and Iloilo, Philippines
1999
Subade, R.F. | Nik Mustapha Raja Abdullah (Philippines Univ. Visayas in the Visayas, Miag-ao, Iloilo (Philippines))
The translog profit function model was used to determine whether sampled Philippine gillnet boats or fishers were able to maximize profits from their fishing trips. The empirical results showed that the translog functional form was more appropriate than the Cobb-Douglas form. The sampled gillnets boats were not able to maximize profits. This nonprofit-maximizing behavior was found in each of the different gillnet types: drift gillnet, encircling gillnet and bottom-set gillnet. The evident overfished condition of the fishery and the fishers' satisfaction from their work were cited as the major reasons why they opted to remain in the fishery despite its non-profitability
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