Productive Efficiency of Connecticut Long Island Lobster Fishery Using a Finite Mixture Model

Rangan Gupta, Zinnia Mukherjee (), Mike Tsionas and Peter Wanke ()
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Peter Wanke: COPPEAD Graduate Business School, Federal University of Rio de Janeiro, Rua Paschoal Lemme, 355. 21949-900 Rio de Janeiro

No 201614, Working Papers from University of Pretoria, Department of Economics

Abstract: This paper evaluates the operational practices of three lobster fishing zones in Long Island using a finite mixture model that allows controlling for unobserved heterogeneity. More precisely, a stochastic frontier latent class model is adopted in this research to estimate the production frontiers for each of the different technologies embedded within this heterogeneity. Therefore, this model not only enables the identification of different groups within the fishing zones, but it also permits the analysis of their productive efficiency. Results indicate the existence of five different technology groups within the sample, suggesting that production technologies in lobster fishery are themselves quite heterogeneous despite the environmental conditions. Policy implications are also derived.

Keywords: Long Island Sound; lobster fishery; stochastic production frontier; latent class model; technical efficiency; panel data (search for similar items in EconPapers)
JEL-codes: Q22 Q57 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2016-02
New Economics Papers: this item is included in nep-agr and nep-eff
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Persistent link: https://EconPapers.repec.org/RePEc:pre:wpaper:201614

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