Off‐farm employment in aquaculture: A case study of New England's oyster growers

Abstract

AbstractGlobal aquaculture markets have experienced a great deal of recent success. However, growers are still highly susceptible to risks caused by seasonality, interannual variability in earnings, and environmental factors. As a result, we see growers turning to alternative sources of income, and participating in off‐farm labor. We utilize a series of zero‐inflated count models to examine the relationship between an aquaculture grower's off‐farm labor decision and relevant explanatory variables including demand‐side potency, which is often omitted in the literature. We also look to identify and analyze the importance of professional social networks among growers as a stabilizing mechanism and a way to mitigate risk to growers. This study expands upon an economic model that has traditionally been used for analyzing off‐farm labor choices within an agricultural context and applies it to an increasingly important industry, aquaculture.