Transition Patterns of Fishermen and Land Farmers into Small-Scale Seaweed Aquaculture: The Role of Risk and Time Preferences
Seaweed harvest has denuded many areas of the sea floor, threatening marine ecosystems and the livelihood of coastal communities. Recently, small operators have begun to cultivate seaweed. This paper studies the role of fishing and agriculture, and their interactions with risk and time preferences, in the uptake of seaweed aquaculture. We use a Heckman selection model to study the decision to participate and expansion of production in seaweed aquaculture in Chile.