Characterizing Managerial Skill and Technical Efficiency in a Fishery |
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Authors: | Kirkley James Squires Dale Strand Ivar E |
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Institution: | (1) College of William and Mary, School of Marine Science, Virginia Institute of Marine Science, Gloucester Point, Virginia, 23062;(2) National Marine Fisheries Service, Southwest Fisheries Science Center, P.O. Box 271, La Jolla, California, 92038;(3) Department of Agricultural and Resource Economics, University of Maryland, College Park, Maryland, 20742 |
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Abstract: | Researchers have long recognized that entrepreneurial or managerial skill is a major determinant of productivity or reason why production among firms varies. Yet, except for a few studies, differences in productivity and output levels are usually attributed to plant configuration or scale. More important, there appears to have been few attempts to relate technical efficiency to managerial skill. Utilizing a stochastic production frontier, we examine the relationship between technical efficiency and characteristics of skill such as experience and education in a fishery. Although we can not determine threshold or essential levels of experience and education, substitution possibilities are found to exist between years of experience and education levels. Additional analysis of efficiency for two captains of the same background and experience reveals that additional characteristics need to be considered in the examination of skipper skill or the good-captain hypothesis. |
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Keywords: | Technical efficiency managerial skill and fisheries |
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