Browsing by Author "Carole R. Engle"

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    Economics of Aquaculture Better Management Practices
    (Blackwell Publishing, 2008) Carole R. Engle; Ada Wossink
    Economics is often defi ned as the allocation of scarce resources to meet the unlimited wants and needs of human beings. This defi nition illustrates the breadth of the economics discipline and the basis for the tools of economic analysis that are used to address issues that extend well beyond business activities. In the context of environmental regulation, better management practices (BMPs), and aquaculture, economics provides theoretical and analytical models that can identify optimal or best choices given particular sets of environmental and business objectives. To an economist, pollution is an externality. An externality exists when the welfare of a fi rm or individual depends directly on activities under the control of some other fi rm or individual. Regulations may be promulgated when pollution causes damage to enough people so that attention is drawn to the problem. This is particularly true if the society is wealthy enough or if there is potential to direct resources toward alleviating damages or preventing future damages.
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    Investment and Farm Modeling for Feasibility Assessment and Decision Making in Aquaculture
    (Blackwell Publishing, 2007) Carole R. Engle
    Successful and sustainable aquaculture development requires that culture technologies become transferred to the private sector as economically and financially viable businesses. Thorough business planning minimizes the risks of new aquaculture business start-ups and assists with obtaining investment and operating capital. Investment and farm economic models can assist decision makers by quantifying the tradeoffs associated with a variety of management decisions. A wide variety of models have been used over time to assess the economic feasibility of new aquaculture ventures, to analyze proposed new changes in management, and to evaluate possible effects of proposed policy alternatives. This paper reviews recent applications of various types of models to a variety of species, production systems, and policy alternatives in the aquaculture economics literature. Data requirements and model limitations are discussed. Comparisons are made across models that provide some general guidelines for investors, lenders, and entrepreneurs interested in the development of aquaculture businesses.