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Size economies and optimal scheduling in shrimp production: results from a computer simulation model
Authors:X Tian  P S Leung  D J Lee
Institution:

a Department of Business, Economic Development and Tourism, HI, USA

b Department of Molecular Biosciences and Biosystems Engineering, University of Hawaii at Manoa, 3050 Maile Way, Gilmore Hall 111, Honolulu, HI 96822, USA

c Department of Food and Resource Economics, Institute of Food and Agricultural Sciences, University of Florida, FL, USA

Abstract:This paper describes a computer simulation model developed to analyze the economics of shrimp production under different stocking regimes, harvesting schedules, and farm sizes. The operation examined is ‘closed-market’ where all stages of production occur on-site, and the final product, adult shrimp, are sold in the market. The model was parameterized using existing market data and secondary production data collected from experimental units at the Oceanic Institute in Hawaii. Results indicated that a weekly stocking and harvesting regime is more profitable than either a biweekly or 8-week stocking and harvesting regime. Scale economies indicated that the minimum farm size is twenty-six growout ponds and the optimal farm size is 64 growout ponds.
Keywords:Shrimp production  Size economies  Optimal scheduling  Simulation model
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