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Optimal Harvest Schedule for Maricultured Shrimp: a Stochiastic Sequential Decision Model

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Title: Optimal Harvest Schedule for Maricultured Shrimp: a Stochiastic Sequential Decision Model
Authors: Leung, PingSun
Hochman, Eithan
Wanitprapha, Kulavit
Shang, Yung C.
Wang, Jaw-Kai
Keywords: mariculture
growth models
decision support systems
bioeconomic models
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Issue Date: May 1989
Publisher: University of Hawaii
Citation: Leung PS, Hochman E, Wanitprapha K, Shang YC, Wang JK. 1989. Optimal harvest schedule for maricultured shrimp: a stochiastic sequential decision model. Honolulu (HI): University of Hawaii. 43 p. (Research Series; RS-060).
Series/Report no.: Research Series
Abstract: Successful introduction of advanced intensive technology in shrimp mariculture
requires the appropriate management tools. This report presents a management model
for determining the optimal stocking and harvesting schedules for a shrimp pond of a
mariculture shrimp operation. The developed model is an extension of the classical
growing inventory model. It provides a set of simple intra- and interseasonal decision
rules expressed as cutoff revenue when both price and weight are assumed random, and
as cutoff price or cutoff weight when either price or weight is assumed random. If current
realized revenue is less than the cutoff revenue, the decision is to keep the crop and delay the decision to sell for another period; otherwise, the decision is to sell. Application of this model to a hypothetical shrimp farm in Hawaii with 24 0.2-ha round ponds indicates that net return can be increased three times by applying the derived optimal policies, compared with a conventional fixed scheduling scheme. The economics of controlled environment is also evaluated using the model.
Pages/Duration: 43 pages
ISSN: 0197-9310
Appears in Collections:Research Series, 1981 - 1986

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