Simulating the economic viability of crawfish production: A two‐stage modeling approach

Autor:	William H. Daniels, J. Richard Bacon, Amy McCullough, Conrado M. Gempesaw
Rok vydání:	2001
Předmět:	Ecology business.industry Geography Planning and Development Simulation modeling Procambarus acutus Microsoft excel Aquatic Science Capital budgeting Agricultural science Economic viability Agriculture Production (economics) Environmental science Operations management Stage (hydrology) business
Zdroj:	Aquaculture Economics & Management. 5:69-79
ISSN:	1551-8663 1365-7305
Popis:	The purpose of this study was to determine if raising eastern white river crawfish (Procambarus acutus acutus) in the Mid‐Atlantic region year‐round is economically feasible. The possibility for economic success, or even survival, was examined with the use of a two‐stage dynamic‐stochastic simulation modeling framework. Six simulation models were specified in ProModel 4.0 to mimic crawfish farms with different components. Information collected from the ProModel experiments were then used in @Risk, a Microsoft Excel add‐in, in order to determine the economic viability of crawfish farms using capital budgeting methods. Results suggest that crawfish farming in the Mid‐Atlantic region can be feasible assuming optimal farm size and production conditions are attained along with adequate consumer demand.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::2ecfc279959feb2a856642bedb34388b https://doi.org/10.1080/13657300109380278 Zobrazit plný text záznamu