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annotated bibliography of fisheries economics literature - Office of ...

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expanded marketing opportunities in the future.<br />

Hanson, J.S., W.L. Griffin, J.W. Richardson, and C.J. Nixon (1985).<br />

"Economic Feasibility <strong>of</strong> Shrimp Farming in Texas: An Investment<br />

Analysis for Semi-Intensive Pond Grow-Out." Journal <strong>of</strong> World<br />

Mariculture, 16:129-150.<br />

A firm level simulation model (MARSIM) was developed to analyze the<br />

survival <strong>of</strong> different shrimp farm sizes in Texas. The model simulates the<br />

annual activities <strong>of</strong> a shrimp farm: production, finances, cash receipts,<br />

capital replacement and depreciation, cash flows, income taxes, balances, and<br />

growth. A firm is replicated 50 times over a 10 year planning horizon.<br />

Random values for shrimp growth and survival, temperature, hurricanes, and<br />

prices received in each <strong>of</strong> 10 years are generated from multivariate empirical<br />

probability density functions (pdf) for these variables. For the analysis<br />

summarized here, a shrimp farm was simulated using 3 different size systems<br />

and 4 different pond sizes. Results indicate that higher rates <strong>of</strong> return and<br />

faster payback are associated with larger total farm size and larger ponds.<br />

For large farms (400 surface hectares), pond size becomes less critical to<br />

obtaining an acceptable rate <strong>of</strong> return to investment. The amount <strong>of</strong> time<br />

taken to construct a facility significantly impacts the rate <strong>of</strong> return.<br />

Hurricanes, prices, production, and temperature variation are also critical<br />

factors affecting the firm's returns and survival.<br />

Harberger, Arnold C. (1971). "Three Basic Postulates for Applied<br />

Welfare Economics: An Interpretive Essay." Journal <strong>of</strong> Economic<br />

Literature, 9(3):785-797.<br />

The postulates are (a) the competitive demand price for a given unit<br />

measures the value <strong>of</strong> that unit to the demander; (b) the competitive supply<br />

price for a given unit measures the value <strong>of</strong> that unit to the supplier; and<br />

(c) when evaluating the net benefits for costs <strong>of</strong> a given action, the costs<br />

and benefits accruing to each member <strong>of</strong> that relevant group should normally be<br />

added without regard to the individual to whom they accrue.<br />

Hardin, Garrett (1968). "The Tragedy <strong>of</strong> the Commons." Science,<br />

162(December):1243-1248.<br />

The population problem has no technical solution; it requires a<br />

fundamental extension in morality.<br />

Hardy, Linda (1995). "Data Request." National Marine Fisheries<br />

Service, Southeast <strong>fisheries</strong> Science Center, Beaufort Laboratory,<br />

101 Pivers Island Road, Beaufort, N.C., March.<br />

Formats describing south Atlantic shrimp landings data for 1991 to 1993<br />

and the vessel operating units file for the southeastern region for 1990 to<br />

1993.<br />

Harper, Douglas E. (1994). "The 1994 Spiny Lobster Update <strong>of</strong> Trends in<br />

Landings, CPUE, and Size <strong>of</strong> Harvested Lobster." Miami Laboratory<br />

Contribution No. MIA-93/94-82, National Oceanic and Atmospheric<br />

Administration, National Marine Fisheries Service, Southeast<br />

Fisheries Science Center, 75 Virginia Beach Drive, Miami, FL,<br />

September, 14 pp.<br />

The objectives <strong>of</strong> this report are to examine (1) trends in commercial<br />

landings and effort, (2) catch per unit effort (CPUE), and (3) size <strong>of</strong> lobster<br />

in commercial and recreational catches.<br />

2 8 3

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