International Institute of Fisheries Economics and Trade
Abstract
This study explores the optimal harvesting time in a size-heterogeneous population dynamics. The model includes the effect of population density in both the mortality rate and individual growth. An application to specific conditions of shrimp culture in Mexico is presented. The optimal harvesting rule is numerically found for different economic and productive scenarios. Parallel results are also obtained under the hypothesis of homogeneous population growth, which has been traditionally considered in the economic literature. In general, the discounted net revenue of the firm is underestimated if the size-heterogeneity phenomenon is not taken into account, while the calculated harvesting time shortens the predictions based on the homogeneous growth hypothesis. These results reveal that optimal management rules are significantly mistaken if the size-heterogeneity phenomenon is not taken into account.Keywords: Aquaculture, Aquaculture Efficiency and Management, Fisheries Economic
