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 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.


Issue Date:
2003-08
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/31092
Published in:
Journal of Agricultural and Resource Economics, Volume 28, Number 02
Page range:
252-271
Total Pages:
20




 Record created 2017-04-01, last modified 2017-04-04

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