The Journal of Fisheries Business Administration (수산경영론집)
- Volume 24 Issue 2
- /
- Pages.69-82
- /
- 1993
- /
- 1225-1011(pISSN)
- /
- 2288-1727(eISSN)
An Estimation of production Function in the Coastal Fishing
연안어선어업의 생산함수추정
Abstract
The purpose of this paper is to estimate production function in the coastal fishing, especially long bag set net fishing and trap fishing using Cobb-Douglas production function with the three main variables: fishing quantity per tonage(WQFP), the number of working persons per tonage(WEMP), and the number of utilized fishing equipments per tonage(WEQU). The statistical results of such estimation reveal that fishing quantity per tonage can be expressed as a function of the number of working persons per tonage and the number of utilized fishing equipments per tonage. The estimated coefficients of WEMP and WEQU are statistically significant and also satisfy the requirements of Cobb-Douglas production function. This study also estimates marginal rate of technical substitution of labor in terms of capital (MRT
Keywords