|Document Type:||Journal Article|
|Title:||Income Diversification and Risk for Fishermen|
|Author:||Stephen Kasperski, Daniel S. Holland|
|Journal:||Proceedings of the National Academy of Science|
Catches and prices from many fisheries exhibit high inter-annual variability leading to variability in the income derived by fishery participants. The economic risk posed by this variability might 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 evaluate how they have changed over time. We find that the current fleet of vessels on the US West Coast and in Alaska is less diverse than at any point in the past 30 years. We also find a dome shaped relationship between variability of individuals’ income and income diversification which implies that a small amount of diversification increases risk, but moderate amounts of diversification can substantially reduce the variability of income that individuals receive from fishing.
study of incomer diversification of fishermen from West Coast and Alaska
|Theme:||Ecosystem Approach to Management for the California Current Large Marine Ecosystem|
Describe the interaction between human activities and ecosystem status and resilience.
Kasperski, S. and D.S. Holland 2013. Income Diversification and Risk for Fishermen. Proceedings of the National Academy of Science. 100(6):2076-2081. doi: 10.1073/pnas.1212278110