Estimates of fishermen's personal discount rate

Abstract

Most empirical research on personal discount rates (PDRs) relates to individuals purchasing household appliances and inter-temporal choices on monetary transactions. No estimates of PDRs associated with natural resource exploitation were found in the literature and the purpose of this letter is to present estimates of commercial fishermen's PDRs implicit in choices on a hypothetical fish-stock recovery programme. Knowledge of such PDRs are necessary for the design of effective voluntary programmes for fish stock conservation.