| Abstract: | The objective of this study was to evaluate the relationship of pond size and hybrid striped bass growout profitability as an alternative source of farm income in the Mid-Atlantic region. A dynamic, whole farm, Montdarlo capital budgeting simulation model (AQUASIM) and stochastic dominance with respect to a function technique were used to analyze the economics of hybrid striped bass growout from phase II to market production stage for eight farms categorized by pond sizes. Three scenarios are assumed to examine the effects of pond-size dependent changes in feed conversion efficiency and fingerling survival rates on discounted after-tax net present values and probabilities of economic survival and success. Optimal pond sizes were found to be in the 2.5 acre to 10 acre range. |
