Open AccessIndoor Intensive Red Drum Aquaculture: A Stochastic Sensitivity Analysis
Author(s) -
Thacker Sayra G.,
Griffin Wade L.
Publication year - 1994
Publication title -
journal of the world aquaculture society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.655
H-Index - 60
eISSN - 1749-7345
pISSN - 0893-8849
DOI - 10.1111/j.1749-7345.1994.tb00808.x
Subject(s) - drum , biology , aquaculture , outcome (game theory) , sensitivity (control systems) , range (aeronautics) , rate of return , natural resource economics , fishery , economics , engineering , microeconomics , finance , mechanical engineering , electronic engineering , fish <actinopterygii> , aerospace engineering
This research uses stochastic sensitivity analysis to examine an indoor intensive red drum aqua‐culture facility. Important biological and economic factors are varied one at a time to determine the chance of survival and the chance of success. Results indicate that this type facility is very stable since all but one scenario had a 100% chance of surviving. This stability occurs because harvesting is spread uniformly through the year. Chances of being an economic success range from 0 to 100% depending on the investor's required rate of return and the assumed level of biological and economic factors considered in this analysis. An investor's interest in red drum farming will depend on his individual required rate of return, his management capabilities, the market conditions and his willingness to take a risk. It is certain, however, that a 0% chance of economic success will occur for a red drum farm under poor management.