The Conference Program for IIFET, held July 10-14 in Corvallis, Oregon. Program lists the sessions by date and time and includes the session titles, speakers and paper titles.
The brief historical occurrence of aquaculture introduces the science that evolved from the early studies on cod propagation in 1864, and the export of these concepts about stock enhancement through protection of early life history stages through what has always been considered the ‘critical periods’ during which the majority of...
Due to the development and change in shrimp culture technology during a period from 1985 to 1995, Thailand has made an impressive success in shrimp aquaculture development, which resulted in the dramatic increase in the number of intensive black tiger shrimp farms all along the coastal area of the country...
The valuation of the opportunity to either invest or exploit a fishery is particularly difficult because of the high uncertainty concerning the resource price. The traditional net-present-value (NPV) and other discounted-cash-flows (DCF) methods cannot properly capture the management's flexibility and strategic value aspects of a fishery, thus they may understate...
These experiences working on regional and national problems for fisheries managers in NMFS have given me a perspective on the role of economics in fisheries management that I am going to share with you today. I would like to stress that this perspective is unique to me and does not...
Potential changes in the tobacco program have prompted research of aquaculture crops in Kentucky. Using a dynamic, programming model, this paper evaluates two methods for producing pond-raised paddlefish to assess if either method is economically viable in Kentucky. Results indicate that a polyculture system with catfish is profitable.
This paper discusses the use of options as a tool to retrieve valuable information on the value and level of risk associated with owning a share in a stock of renewable resource. The objective is to show how theory on options trading can be used to obtain information on the...
In this paper a real options approach is taken to natural resource contract valuation. A comparison is made between hedging with futures on developed (harvested) versus undeveloped assets. The risk-free Q martingale probability measure is obtained for the developed asset, and modified to a cost-adjusted Q martingale in the undeveloped...
This paper analyses the factors explaining productivity and efficiency differences across salmon aquaculture farms, with an emphasis on agglomeration externalities. We specify a stochastic frontier production model with agglomeration indexes included in both the frontier production function and the technical inefficiency model. The frontier model is estimated on a rich...