Time Preferences of Food Producers: Does “Cultivate and Grow” Matter?

Yayan Hernuryadin, Koji Kotani and Tatsuyoshi Saijo

Abstract

Resource scarcity and food security are important issues due to overexploitation of natural resources. Fishing and farming have been two main occupations that produce food; however, their production modes are distinct in that fishermen (farmers) harvest (cultivate, grow, and harvest). It is hypothesized that such differences in production modes characterize their time preferences and discounting behaviors. We have conducted a discounting elicitation experiment for fishermen and farmers in Indonesia. The statistical analysis shows that fishermen are much more shortsighted than farmers, implying that fishermen should be encouraged to nurture a culture of cultivating and growing for sustainability of fish stock. (JEL Q18, Q22)

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