Investment and Farm Modeling for Feasibility Assessment and Decision Making in Aquaculture
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Date
2007
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Publisher
Blackwell Publishing
Abstract
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.
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Keywords
Investment and Farm Modeling, Decision Making in Aquaculture, Theoretical Concepts