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

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

1,* email, 1,†email, 1,†email, 2,†email and II 3,†email
Received: 28 February 2014; in revised form: 4 June 2014 / Accepted: 5 June 2014 / Published: 17 June 2014
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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.
Keywords: fisheries; technical efficiency; allocative efficiency; stochastic dominance; stochastic efficiency with respect to a function (SERF); socio-economics
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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.

AMA 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(6):3878-3898.

Chicago/Turabian Style

Fathelrahman, Eihab; Basarir, Aydin; Gheblawi, Mohamed; Sherif, Sherin; Ascough, James, II. 2014. "Economic Risk and Efficiency Assessment of Fisheries in Abu-Dhabi, United Arab Emirates (UAE): A Stochastic Approach." Sustainability 6, no. 6: 3878-3898.

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