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Sustainability 2014, 6(6), 3878-3898; doi:10.3390/su6063878

Economic Risk and Efficiency Assessment of Fisheries in Abu-Dhabi, United Arab Emirates (UAE): A Stochastic Approach

1
Department of Agribusiness and Consumer Sciences, College of Food and Agriculture, United Arab Emirates University, P.O. Box 15551, Al Ain, United Arab Emirates
2
Economics and Agribusiness Department, College of Agriculture, Alexandria University, El-Shatby, Alexandria, Egypt
3
United Sates Department of Agriculture (USDA), Agricultural Research Services (ARS), Northern Plain Area (NPA), Agricultural Systems Research Unit (ASRU), 2150 Centre Avenue, Building D, Suite 200, Fort Collins, CO 80526, USA
These authors contributed equally to this work.
*
Author to whom correspondence should be addressed.
Received: 28 February 2014 / Revised: 4 June 2014 / Accepted: 5 June 2014 / Published: 17 June 2014
View Full-Text   |   Download PDF [684 KB, 24 February 2015; original version 24 February 2015]   |  

Abstract

The fishing industry in Abu-Dhabi, United Arab Emirates (UAE), plays an important role in diversifying food sources in order to enhance national food security. The fishing industry is facing an increasing risk that may impact the sustainability (i.e., quantity and quality) of the fish caught and consumed in the UAE. Therefore, the main objective of this study is to analyze common Abu-Dhabi fishing management alternatives using various stochastic dominance techniques (i.e., first/second degree stochastic dominance, stochastic dominance with respect to a function and stochastic efficiency with respect to a function) to assess the risk facing UAE fishermen. The techniques represent a risk assessment continuum, which can provide a ranking of management alternatives to improve decision making outcomes and help maintain long-term UAE fishing sustainability. Data for the stochastic dominance analyses were obtained from a cross-sectional survey conducted through face-to-face interviews of Abu Dhabi, UAE, fishermen. Analysis of fishing methods, trap sizes and trap numbers using stochastic efficiency with respect to a function (SERF) showed that fishermen efficient practices were not the same for risk-neutral fishermen compared to risk averse fishermen. Overall, the stochastic dominance results illustrated the importance of considering both attitude towards risk and economic inefficiencies in managing UAE fishery practices and designing successful fishery policies, as well as improving decision-making at the fishermen level. View Full-Text
Keywords: fisheries; technical efficiency; allocative efficiency; stochastic dominance; stochastic efficiency with respect to a function (SERF); socio-economics fisheries; technical efficiency; allocative efficiency; stochastic dominance; stochastic efficiency with respect to a function (SERF); socio-economics
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).

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MDPI and ACS Style

Fathelrahman, E.; Basarir, A.; Gheblawi, M.; Sherif, S.; Ascough, J., II. Economic Risk and Efficiency Assessment of Fisheries in Abu-Dhabi, United Arab Emirates (UAE): A Stochastic Approach. Sustainability 2014, 6, 3878-3898.

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