Safety-first and chance-constrained production planning models for fish farms

The paper presents two single period portfolio selection models for production planning in fish farms. One of them is a safety first model and the other one is a chance constrained model. The models belong to the class of stochastic programming models and represent an alternative to mean-variance models. Some of the variables of the models are binary and others belong to the reals. In order to solve the models heuristic algorithms and computer simulation must be used.

[1]  Constanta Zoie Radulescu,et al.  Sustainable production technologies which take into account environmental constraints , 2009, Eur. J. Oper. Res..

[2]  T. Koellner,et al.  Biodiversity, Ecosystem Function, and Investment Risk , 2006 .

[3]  James N. Sanchirico,et al.  An empirical approach to ecosystem-based fishery management , 2008 .

[4]  Carlos Romero.  Risk programming for agricultural resource allocation: A multidimensional risk approach , 2000, Ann. Oper. Res..

[5]  David M. Nanang,et al.  Application of real options theory to forestry investment analysis , 2004 .

[6]  S. Awerbuch,et al.  Analytical methods for energy diversity and security : portfolio optimization in the energy sector: a tribute to the work of Dr Shimon Awerbuch , 2008 .

[7]  Steven C. Blank.  Producers get Squeezed up the Farming Food Chain: A Theory of Crop Portfolio Composition and Land Use , 2001 .

[8]  F. Figge.  Bio-folio: applying portfolio theory to biodiversity , 2004, Biodiversity & Conservation.

[9]  Sherry L. Larkin,et al.  Portfolio Analysis for Optimal Seafood Product Diversification and Resource Management , 2003 .

[10]  Thomas Knoke,et al.  Mixed forests and finance -- Methodological approaches , 2008 .

[11]  Suresh A. Sethi,et al.  Risk management for fisheries. , 2010 .

[12]  Thomas Knoke,et al.  A Scientific Perspective for Silviculture , 2010 .

[13]  Constanţa Zoie Rădulescu,et al.  A Portfolio Theory Approach to Fishery Management , 2010 .

[14]  Florin Gheorghe Filip,et al.  SUSTAINABLE PRODUCTION PLANNING MODELS , 2008 .

[15]  M. Schneeberger,et al.  Application of Portfolio Theory to Dairy Sire Selection , 1982 .

[16]  Upton Hatch,et al.  A risk programming model for farm-raised catfish , 1988 .

[17]  T. Knoke,et al.  Mixed forests reconsidered: A forest economics contribution on an ecological concept , 2005 .

[18]  Carlos Romero.  Una aplicación del modelo de markowitz a la selección de planes óptimos de variedades de manzanos en el provincia de Lérida , 1976 .

[19]  Marc Hanewinkel,et al.  The role of economic models in forest management. , 2009 .

[20]  Peter Blandon,et al.  Analyzing Risk in Agroforestry Systems Using a Portfolio Approach , 2004 .

[21]  Peter Blandon,et al.  Agroforestry and portfolio theory , 1985, Agroforestry Systems.

[22]  Constanţa Zoie Rădulescu,et al.  Crop Planning in the Presence of Production Quotas (Invited Paper) , 2008, Tenth International Conference on Computer Modeling and Simulation (uksim 2008).