Management Ability and the Economics of Recirculating Aquaculture Production Systems

A bioeconomic model of fish growth in recirculating aquaculture systems was constructed by developing a bioenergetic model comprised of metabolic sub-models for growth, ammonia production, and oxygen consumption. Metabolite accumulations are determined by exogenous control variables for filtration a...

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Bibliographic Details
Published in:Marine resource economics 1995-07, Vol.10 (2), p.187-209
Main Authors: KAZMIERCZAK, RICHARD F., CAFFEY, REX H.
Format: Article
Language:English
Subjects:
Algorithms
Ammonia
Aquaculture
Aquaculture industry
Biofiltration
Dietary protein
Economic growth models
Fish culture
Fisheries management
Fishes
Freshwater
Intensive aquaculture
Mathematical optimization
Metabolites
Mortality
Oxygen
Recirculating aquaculture systems
Seafood industry
Tilapia
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Summary:A bioeconomic model of fish growth in recirculating aquaculture systems was constructed by developing a bioenergetic model comprised of metabolic sub-models for growth, ammonia production, and oxygen consumption. Metabolite accumulations are determined by exogenous control variables for filtration and aeration and used to indirectly represent management ability. Numerical solutions to model parameters were obtained using a two point boundary shooting algorithm within a dynamic profit maximization framework. Optimal trajectory, isoquant, and bioeconomic optimization analyses describe specific tradeoff relationships existing between nutrition, density, and technology. Results demonstrate the economic importance of these relationships changes over time in response to fish weight, and not always in ways suggested by the physical importance of individual factors. Specifically, economically viable tradeoffs between dietary protein and stocking density occur over relatively narrow regions of management ability. Without highly experienced and capable management, the biological realities of recirculating systems may preclude profitable system operation.
ISSN:0738-1360
2334-5985
DOI:10.1086/mre.10.2.42629110