1. A BIOECONOMIC MODEL FOR CHAM SCALLOP ( PATINOPECTEN YESSOENSIS ) AQUACULTURE IN KOREA.
- Author
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Jong Du Choi, Larkin, Sherry L., and Spreen, Thomas H.
- Subjects
AQUACULTURE ,MARKOV spectrum ,HARVESTING ,SCALLOPS ,SALINITY - Abstract
A bioeconomic model of cham scallop aquaculture in Korea was used to determine an optimal farm grow-out strategy. The model used estimated cost functions for two culture methods and growth functions based on three environmental characteristics for each region (Kojin and Chumunjin). Stochastic growth was incorporated using probabilities of alternative environmental states (based on expected levels of water temperature, salinity, and dissolved oxygen) by region, culture method, and month. The model revealed a 26% potential increase in net present value from altering management of a single rotation. Optimal multiple rotations required up to four different rotations depending on the region and culture style. Farmers could increase economic returns by delaying harvest and subsequent plantings in order to market larger, more valuable scallops. Resource managers could increase resource rents by adjusting the licensing system to account for regional-style differences and by targeting the planned aquaculture investments. [ABSTRACT FROM AUTHOR]
- Published
- 2006
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