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DYNAMIC STOCHASTIC ADAPTIVE BIOECONOMIC MODEL OF OFFSHORE BLUEFIN TUNA AQUACULTURE

DYNAMIC STOCHASTIC ADAPTIVE BIOECONOMIC MODEL OF OFFSHORE BLUEFIN TUNA AQUACULTURE This research presents a bioeconomic framework for assessing the economic feasibility of an offshore bluefin tuna aquaculture operation by developing a dynamic stochastic adaptive bioeconomic model of such an offshore enterprise. The bioeconomic model incorporates the biological constraints of the species, the interaction of relevant economic parameters and constraints, and stochastic sources of risk to solve for the profit maximizing behavior of a farmed bluefin tuna producer. The model identifies the optimal harvest schedule for an offshore bluefin tuna farming facility that maximizes the net present value of the operation under a variety of economic, biological and regulatory conditions. Such a model is relevant given the growing prevalence of bluefin tuna farming worldwide, the present lack of studies formally examining the economics of this form of production, and the uncertainty surrounding the economic feasibility and sustainability of this form of production. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Aquaculture Economics & Management Taylor & Francis

DYNAMIC STOCHASTIC ADAPTIVE BIOECONOMIC MODEL OF OFFSHORE BLUEFIN TUNA AQUACULTURE

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DYNAMIC STOCHASTIC ADAPTIVE BIOECONOMIC MODEL OF OFFSHORE BLUEFIN TUNA AQUACULTURE

Abstract

This research presents a bioeconomic framework for assessing the economic feasibility of an offshore bluefin tuna aquaculture operation by developing a dynamic stochastic adaptive bioeconomic model of such an offshore enterprise. The bioeconomic model incorporates the biological constraints of the species, the interaction of relevant economic parameters and constraints, and stochastic sources of risk to solve for the profit maximizing behavior of a farmed bluefin tuna producer. The model...
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Publisher
Taylor & Francis
Copyright
Copyright IAAEM
ISSN
1551-8663
eISSN
1365-7305
DOI
10.1080/13657300902885451
Publisher site
See Article on Publisher Site

Abstract

This research presents a bioeconomic framework for assessing the economic feasibility of an offshore bluefin tuna aquaculture operation by developing a dynamic stochastic adaptive bioeconomic model of such an offshore enterprise. The bioeconomic model incorporates the biological constraints of the species, the interaction of relevant economic parameters and constraints, and stochastic sources of risk to solve for the profit maximizing behavior of a farmed bluefin tuna producer. The model identifies the optimal harvest schedule for an offshore bluefin tuna farming facility that maximizes the net present value of the operation under a variety of economic, biological and regulatory conditions. Such a model is relevant given the growing prevalence of bluefin tuna farming worldwide, the present lack of studies formally examining the economics of this form of production, and the uncertainty surrounding the economic feasibility and sustainability of this form of production.

Journal

Aquaculture Economics & Management – Taylor & Francis

Published: May 20, 2009

Keywords: aquaculture; bioeconomics; bluefin tuna; dynamic models; stochasticity

References

  • Changes in some morphometric relationships in Atlantic bluefin tuna (Thunnus thynnus thynnus, Linnaeus, 1758) as a result of the fattening process
  • Growth, food intake and feed conversion rates in captive Atlantic bluefin tuna (Thunnus thynnus Linnaeus, 1758) under fattening conditions
  • Migratory movements, depth preferences, and thermal biology of Atlantic bluefin tuna
  • Economics of cage culture in Puerto Rico
  • Pricing U.S. North Atlantic bluefin tuna and implications for management
  • Metazoan parasites on gills of Southern bluefin tuna (Thunnus maccoyii) do not rapidly proliferate after transfer to sea cages
  • Market and Domestic Production of Cultured Tuna in Japan-Cultured Tuna in the Japanese Market
  • Risk assessment in open-ocean aquaculture: A firm-level investment-production model
  • Economics of offshore aquaculture of Pacific threadfin (Polydactylus sexfilis) in Hawaii
  • A preliminary study of the growth rate of bluefin tuna from Adriatic when reared in the floating cages
  • Bluefin Tuna (Thunnus thynnus L.) farming on the Croatian Coast of the Adriatic sea-present stage and future plans
  • Rearing of Small Bluefin Tunas (Thunnus thynnus) in the Adriatic Sea—Preliminary Study
  • Tuna Farming as a New Achievement in Mariculture of Croatia
  • Present Status and Prospects of Technical Development of Tuna Sea-Farming. Recent advances in Mediterranean aquaculture finfish species diversification
  • Completion of the Pacific bluefin tuna Thunnus orientalis (Temminck et Schlegel) life cycle
  • Growth indices of small northern bluefin tuna (Thunnus thynnus, L.) in growth-out rearing cages
  • Premium tuna fetches $100,000 at auction