The Jamaican fishing study reinterpreted |
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| Authors: | Michael Walker |
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| Institution: | (1) Dept. of Psychology, University of Sydney, Sydney, Australia |
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| Abstract: | The data obtained in the Jamaican fishing study (Davenport, 1960) and the analysis imposed are reconsidered. The assumptions of both the game theory approach and a Bayesian analysis (Kozelka, 1969) are criticised and an alternative market model is presented. It is shown that if fish prices fluctuate according to a simple model of supply and demand then the strategic behaviour of the fishing captains can be explained. |
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