Optimal Batch Lengths for Barramundi Farming Under Seasonal Variations: A Dynamic Programming Approach Public Deposited

http://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/fn106z90v

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  • Key decision variables in aquaculture management are stocking level, feeding schedule, temperature control and batch length. In many management problems with an infinite planning horizon, the aim is to find the batch length which results in maximum return if the same batch length applies to all future batches. This may be an optimal strategy if all environmental and economic parameters are the same for all time periods, but not necessarily otherwise. The optimal sequence of possibly variable batch lengths for an infinite sequence of batches is determined for a barramundi farm in Port Stephens in New South Wales, Australia. This serves as a case study, in which there is seasonal variation in fish price and outside temperature. The problem is formulated and solved using dynamic programming. The extent to which the net present value of returns is increased by allowing batch length to be variable instead of fixed over an infinite planning horizon is evaluated.
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  • Rupasinghe, Jagath W. and John O.S. Kennedy. 2006. Optimal Batch Lengths for Barramundi Farming Under Seasonal Variations: A Dynamic Programming Approach. In: Proceedings of the Thirteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 11-14, 2006, Portsmouth, UK: Rebuilding Fisheries in an Uncertain Environment. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2006. CD ROM. ISBN 0-9763432-3-1
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