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          Volume 28, Number 02, August 2003 >

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Title: Portfolio Analysis for Optimal Seafood Product Diversification and Resource Management
Authors: Sylvia, Gilbert
Tuininga, Chris
Larkin, Sherry L.
Keywords: bioeconomic analysis
dynamic optimization
Pacific whiting
portfolio analysis
resource management
seafood processing
Issue Date: 2003-08
Abstract: Future harvests from commercial fish stocks are unlikely to increase substantially due to biological and regulatory constraints. Developing alternative sets of processed seafood products is one strategy for increasing welfare while managing the risks inherent in a variable and renewable natural resource. To quantify the risk-benefit tradeoffs of alternative strategies, a portfolio decision framework is embedded into a multi-period bioeconomic model. The model is used to generate an efficient portfolio frontier to estimate possible rent dissipation from status quo management. Frontiers are also generated for seafood processors and brokers. Implications for the different industry agents are discussed.
Institution/Association: Journal of Agricultural and Resource Economics>Volume 28, Number 02, August 2003
Total Pages: 20
Language: English
From Page: 252
To Page: 271
Collections:Volume 28, Number 02, August 2003

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