haku: @indexterm Fishing industry / yhteensä: 119
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Tekijä:McConnell, K.E.
Price, M.
Otsikko:The lay system in commercial fisheries: origin and implications
Lehti:Journal of Environmental Economics and Management
2006 : MAY, VOL. 51:3, p. 295-307
Asiasana:fishing industry
incentives
shares
Kieli:eng
Tiivistelmä:This paper discusses lay systems, which mean that the crew is paid with a share of revenues or a share of revenues less costs. The authors provide an explanation for the existence of the lay system as an incentive mechanism to alleviate a potential team agency problem. This explains anomalies, such as the presence of wages in some fisheries, that are odds with the theory of pure risk sharing. Secondly, the implications of the lay system for econometric modeling of fisheries and for understanding firm behaviour are shown.
SCIMA tietueen numero: 262249
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