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Cell Phones Increase Profits for Fishermen in India
Kerala is a poor state in a region of India.
Beginning in 1997 and continuing for the next several years, mobile phone service was introduced to this region of India, virtually eliminating waste, which had averaged 5 to 8 percent of the total catch.
Fishermen’s profits rose on average by 8 percent, while the average price of fish fell by 4 percent.
In fact, cell phones are improving the way markets in less developed countries work by providing price and quantity information so that both producers and consumers can make better economic decisions.