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Technical Efficiency Analysis of the Milkfish (Chanos chanos) Production in Taiwan - An Application of the Stochastic Frontier Production Function

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  • Milkfish has been farmed in Taiwan for over 300 years. Faced with a limited land resource, the industry is looking at the problem of how to maintain a sustainable and efficient production. This study specified a stochastic production frontier function to estimate potential milkfish farm output and efficiency by using 1997-99 data from a survey of 443 aquaculture milkfish farms. Both Translog and Cobb-Douglas frontier production models are estimated using the maximum likelihood estimation method. Hypothesis testing results shows that the Translog stochastic production function model fits the data better and the milkfish farming in Taiwan already exhibits diminishing return to scale. Especially, the managerial manager’s ability and the pond production conditions, which indicated by the type of mono/multi-species cultured, water source, location, education, and years of experience statistically significant capture the inefficiency effects which represent about 90.5% of the production variation. A comparison of the estimated maximum potential milkfish production per hectare under various pond conditions provide managers how to switch in input resources could boost efficiency.
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  • Sun, Chin-Hwa, Fu-Sung Chiang, Jin-Mey Yu. 2002. Technical Efficiency Analysis of the Milkfish (Chanos chanos) Production in Taiwan - An Application of the Stochastic Frontier Production Function. Peer Review: No. In: Proceedings of the Eleventh Biennial Conference of the International Institute of Fisheries Economics and Trade, August 19-22, 2002, Wellington, New Zealand: Fisheries in the Global Economy. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2002. CD ROM.
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