Factors affecting attitude towards risk: The case of small-scale fishers in Guimaras-Reference-Cited by-同舟云学术

Factors affecting attitude towards risk: The case of small-scale fishers in Guimaras

Published:2022-11 Issue: Volume: Page:1-11
ISSN:2782-8522
Container-title:Journal of Ecosystem Science and Eco-Governance
language:en
Short-container-title:J. ecosyst. sci. eco-gov

Author:

Eluriaga Louie Marie¹^ORCID,Zeller Lylve Maliz¹

Affiliation:

1. Division of Social Sciences, College of Arts and Sciences, University of the Philippines Visayas, Miagao, Iloilo, 5023, Philippines

Abstract

The presence of risk and uncertainty in the field of capture fisheries warrants an understanding of how small-scale fishers respond to these uncertainties. Previous studies showed that fishers’ decision-making process is influenced by various factors, including their risk preference. Studies on this subject are scarce despite the relative importance of risk preference in explaining small-scale fisher’s behavior. This study used a multiple price list experiment to elicit small-scale fisher’s risk preference in Guimaras province and employed multinomial logit regression to determine socioeconomic factors influencing risk preference. The results showed that small-scale fishers are slightly risk-averse given the mean Constant Relative Risk Aversion (CRRA) coefficient of 0.20. This risk-averse attitude is significantly influenced by monthly household income, being a Pantawid Pamilyang Pilipino Program (4P’s) beneficiary, and having outstanding credit. Therefore, the risk-averse attitude of small-scale fishers is an essential consideration in implementing fishery regulations and poverty alleviation programs.

Publisher

Caraga State University

Reference22 articles.

1. Alvarado, E., Ibanez, M., & Brummer, B. (2018). Understanding how risk preferences and social capital affect farmers’ behavior to anticipatory and reactive adaptation options to climate change: the case of vineyard farmers in Central Chile. 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 275978, International Association of Agricultural Economists.

2. Badjeck, M. C., Allison, E.H., Halls, A.S., & Dulvy, N.K. (2010). Impacts of climate variability and change on fishery-based livelihoods. Marine Policy, 34(3) 375–383.

3. Barange, M., Bahri, T., Beveridge, M.C.M., Cochrane, K.L., Funge-Smith, S., & Poulain F. (2018). Impacts of climate change on fisheries and aquaculture: synthesis of current knowledge, adaptation and mitigation options. FAO Fisheries and Aquaculture Technical Paper No. 627. Rome: FAO.

4. Brick, K., Visser, M., & Burns., J. (2011). Risk Aversion: Experimental Evidence from South African Fishing Communities. American Journal of Agricultura Economics, 94(1) 133–152.

5. Bureau of Fisheries and Aquatic Resources. (2016). Philippine Fisheries Profile 2016. Bureau of Fisheries and Aquatic Resources, Department of Agriculture, Quezon City, Philippines. https://www.bfar.da.gov.ph/publication.