Portfolio Analysis for Optimal Seafood Product Diversification and Resource Management
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 reso...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Western Agricultural Economics Association
2003-08-01
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| Series: | Journal of Agricultural and Resource Economics |
| Subjects: | |
| Online Access: | https://ageconsearch.umn.edu/record/31092 |
| Summary: | 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. |
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| ISSN: | 1068-5502 2327-8285 |