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This study investigates whether higher catch rates near a marine protected area (MPA), and/or in other fishing areas within a choice set, attract more fishers. A survey conducted in the fishing grounds near an MPA located in south east of Mauritius in the Indian Ocean shows concentration of fishers in regions with lower catch rates. This contrasts with the predictions of the “fishing the line” hypothesis and the ideal free distribution (IFD) that fishers are likely to be attracted near the MPA with higher resource abundance.

Using the random utility model as the framework and the random parameter logit (RPL) model, the study attempts to explain spatial behaviour of fishers. Expected catch and catch variability are modelled using the Just and Pope (JP) production function. The study also estimates effort elasticities with respect to expected catch and catch variability and simulates the relocation of effort from area closure.

The paper concludes that higher catch does attract fishers but is a partial and very restrictive explanation of fishers' behaviour. The “fishing the line” hypothesis does hold to some extent, but it should not be taken for granted that rising catch rates in adjacent waters will increase fishing pressure. The paper concludes that factors such as catch variability, distance from homeport to fishing ground, potential physical risk and attitudes towards risk of fishers affect spatial behaviour of fishers and should be considered for the placement and size of MPAs. The study also finds that the responsiveness of effort to catch rates is lowest in areas which are already heavily fished and easily accessible.

The identification of fishing areas as complements (when fishing in one area increases fishing effort in another) and substitutes is valuable information for determining the placement and size of an MPA. A larger reserve is likely to have more displacement effect in this case than a smaller one. Therefore, a small or a network of a small reserve may be appropriate. The premise to select the site and size of the reserve is to avoid overconcentration of fishers in alternative fishing areas, which can be vulnerable to excessive fishing and unintended effects from fishers.

The paper contributes to an understanding of fishing behaviour and its impact on the configuration of marine reserves. It discusses the importance of effort elasticities to determine the placement and size of an MPA. Studies on this topic are very scanty in the Indian Ocean region. It also shows the application of location choice model, the RPL model and the JP production function in the fisheries sector for a small island.

The formal model of economics of crime developed by Becker is based on the assumption that a miscreant knows with certainty the benefit that accrues to a criminal activity. The purpose of this paper is to relax this assumption and establish a link between technical efficiency and commission of fishery crimes in a developing country where fishing techniques are rudimentary making catch volumes uncertain.

The paper extends the neoclassical model of crime developed by Becker to account for catch uncertainties. The extended model predicts that, in addition to the risk and severity of punishment, less skilful fishermen are more likely to violate effort‐limiting fishing regulations. Primary data were obtained through a survey of 258 artisanal fishermen from the Central and Western Regions of Ghana to test the predictions of the model.

The prediction that less skillful fishers are more likely to violate effort‐limiting fishing regulations is confirmed by the data. Other factors that determined the rate of violation of the fishing regulation include the risk of detection, severity of punishment, rate of time preference, age of the fisher, perceived legitimacy of the regulation and respect for religious norms.

If returns to illegal activities are uncertain, policies that improve the efficiency of potential violators may decrease the rate or extent of violation. Moreover, minimizing overfishing will improve livelihood and reduce poverty among fishers.

The paper makes a novel attempt at linking efficiency (or skills) to violation of regulations.

Grounded on resource dependence theory, the authors explored how power and dependence affect sustainability adoption in an artisanal fishing supply chain (AFSC) in Mexico.

An in-depth longitudinal case study was conducted to identify relationships among fishers, a cooperative and intermediaries using a content analysis of data gathered from a combination of interviews, focus groups, observations, participatory workshops and secondary data.

As a result of the existing power imbalance among AFSC members, mediated forces (e.g. rewards for intermediary–fishers relationship) were the most prominent observed. In addition, a close and high dependence on resources affecting supply chain sustainability (SCS) adoption was identified. For example, within intermediary–cooperative relationships, a power imbalance caused mostly by financial resource dependence generated a negative impact on economic sustainability related to unfair prices and unfair trade. The results, thus, showed the detrimental influence of intermediaries among AFSC members on SCS adoption.

A greater understanding of power imbalance and dependence can help AFSC members to identify their weaknesses and develop actions to adopt sustainability.

Unlike previous research, the authors go beyond the often positive research focus of SCS studies and provide, through the resource dependence theory, a longitudinal view on how power imbalance negatively affects SCS adoption.

The purpose of this paper is to examine the impact of the War on two prominent academic liberal historians.

The research is based on a narrative of their lives and careers before and during the War.

The findings include an analysis of how the War engaged these academic liberals in the pursuit of the War effort.

By the end of the War, both sought to reaffirm much of their earlier academic liberalism despite the political and social changes in the post-war world.

This paper explores how conflicting institutional logics shape the behaviors of macro- and micro-level actors in their use of a calculative practice. Thereby, this paper explains how quantification can undermine the intended purpose of a governance system based on a single number.

The study draws upon the literature on calculative practices and institutional logics to present the case of how a single number—specifically the conversion factor for Atlantic Cod, established by macro-level actors for the purposes of governance within the Norwegian fishing industry—is interpreted and used by micro-level actors in the industry. The study is based on documents, field observations and interviews with fishers, landing facilities, and control authorities.

The use of the conversion factor, while intended to protect fish stock and govern industry actions, does not always align with the institutional logics of micro-level actors. Especially during the winter season, these actors may seek to serve their interests, leading to potential system gaming. The reliance on a single number that overlooks seasonal nuances can motivate unintended behaviors, undermining the governance system’s intentions.

Integrating the literature on calculative practices with an institutional logics perspective, this study offers novel insights into the challenges of using quantification for the governance of complex industries. In particular, the paper reveals that when the logics of macro- and micro-level actors conflict in a single-number governance system, unintended outcomes arise due to a domination of the macro-level logics.

The past two decades of economic activity in the U.S. have been characterized by both high inflation and interest rates in comparison to previous periods of stability. The importance of these two variables to our economic welfare and to the effectiveness of economic policy have led to renewed interest in the Fisher Effect. This is the hypothesis put forth by Irving Fisher describing the relationship between these two variables. It usually takes the form R = re + pe + repe (1) in which R is the nominal rate of interest, re is the expected real rate of interest, and pe is the expected rate of change of prices. The term repe is usually considered insignificant and is dropped, giving R = re + pe. (2) Although this equation can be readily quantified on an ex post basis using actual rather than expected values, the fact that expectation of r and p are not directly observable have always made it difficult to derive an ex ante measure of the real rate.

The purpose of this paper is to consider the general k level step-stress accelerated life test with the Rayleigh lifetime distribution for units subjected to stress under progressive Type-I censoring.

The parameter of this distribution is assumed to be a log-linear function of the stress, and a tampered failure rate model holds. The progressive Type-I censoring reduces the cost of testing. Due to constrained resources in practice, the test design must be optimized carefully. A numerical study is conducted to illustrate the optimum test design based on several four optimality criteria under the constraint that the total experimental cost does not exceed a pre-specified budget.

This paper compares unconstrained and constrained optimal k level step-stress test. Based on the results of the simulation study, the cost constraint reduces cost and time of the test and it also, in the most cases, increases the efficiency of the test. Also, the T-optimal design is lowest cost and time for testing and it is found more optimal in both conditions.

In this paper, various optimization criteria for selecting the stress durations have been used, and these criteria are compared together. Also, because of affecting the stress durations on the experimental cost, the author optimize under the constraint that the total experimental cost does not exceed a pre-specified budget. The efficiency of the unconstrained test in comparison with constrained test is discussed.

A response to S. Fisher′s paper in LR Vol. 39 No. 6, pp. 22‐30. The concept of team librarianship is defended and the team approach of Cumbria County Libraries explained.

The purpose of this paper is to present a methodology based on the transactional asset pricing approach (TAPA) and to illustrate the application of TAPA within the context of professional property valuation.

The TAPA is a novel analytical valuation methodology recasting the traditional derivations of the income approach techniques, including DCF, from a transactional perspective based on the principle of inter-temporal transactional equity, instead of the conventional investor-specific view originating from I. Fisher (1907, 1930).

The authors present DCF analysis as a specific case of a more general TAPA approach to valuation under the income method. This also leads to novel analytical derivations of the Direct income capitalization, Gordon, Inwood, Hoskold and Ring models. Based on the TAPA framework, the authors also research the value-enhancing effects of benchmark market volatility on the subject property value and conclude that such effects can be statistically significant depending on the DCF analysis period.

The research has a direct bearing on time-variable discount rate forecasting capabilities, as it uses a time-variant structure for the discount rates.

Using the US Case-Shiller and BLS rental indices as a valuation benchmark, the paper contains an example of applying the general TAPA framework to value a notional property under a TAPA’s DCF version. Such property valuations can be easily replicated in practice – especially in the context of equitable/fair value determination under the International Valuation Standards Council valuation standards.

TAPA is a deductive principles-based theory of asset valuation especially fit for the transactional and illiquid asset valuation contexts – thus enabling a more efficient pricing for such assets in a sense of reflecting the transactional interests of the parties more closely than achievable under the conventional valuation methods.

TAPA is an original filiation of research with roots going as far back as Aristotelian Catallactics. It contains analytical formalizations of certain transactional equity principles.

This paper aims to initiate a new, formal theory of sociocultural physics.

Its intended scope is limited to predicting either long‐term, large‐scale or short‐term, small‐scale sociocultural events. The theory that the authors develop, called sociohistory, links three independent but relatable approaches: part of Sorokin's epistemological theory of sociocultural dynamics, Frieden's epistemological theory of extreme physical information (EPI), and Yolles's social viable systems (SVS) theory.

Although not all of Sorokin's ideas are universally accepted, a subset of them is found to be extremely useful for describing the conceptual context of complex systems. This includes how sociocultural processes link closely into political processes.

The theory that develops helps explain how opposing, cultural enantiomers or yin‐yang forces (represented, for instance, by the polar mindsets represented in Islamic fundamentalism and global enterprise) can result in violent conflict, or in either viable or non‐viable social communities. The informations I and J of EPI theory are regarded, respectively, as sensate and ideational enantiomers.

While the resulting sociocultural physics is in its infancy, an illustrative application to the developmental dynamics of post‐colonial Iran demonstrates its potential utility.