Testing theoretical explanations for investment behaviour in the Dutch beam trawler fishery in the North Sea

TY - JOUR

T1 - Testing theoretical explanations for investment behaviour in the Dutch beam trawler fishery in the North Sea

AU - Jensen, Frank

AU - Elleby, Christian

AU - Hamon, Katell G.

AU - op de Weegh, Jos

PY - 2019/5/3

Y1 - 2019/5/3

N2 - In this study, we investigate whether the neoclassical economic theory, capital market frictions or preference-based theory can explain investment behaviour in the Dutch beam trawler fishery in the North Sea. By presenting a number of estimations, we show that vessels conducting pulse fishing invest substantially more than similar vessels undertaking conventional fishing, even after controlling for differences in such variables as capital stock, prices, profits and quotas. One possible explanation for this result is that vessel owners may obtain a separate benefit from investing in pulse fishing.

AB - In this study, we investigate whether the neoclassical economic theory, capital market frictions or preference-based theory can explain investment behaviour in the Dutch beam trawler fishery in the North Sea. By presenting a number of estimations, we show that vessels conducting pulse fishing invest substantially more than similar vessels undertaking conventional fishing, even after controlling for differences in such variables as capital stock, prices, profits and quotas. One possible explanation for this result is that vessel owners may obtain a separate benefit from investing in pulse fishing.

U2 - 10.1080/00036846.2018.1540855

DO - 10.1080/00036846.2018.1540855

M3 - Journal article

SN - 0003-6846

VL - 51

SP - 2233

EP - 2248

JO - Applied Economics

JF - Applied Economics

IS - 21

ER -