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http://dx.doi.org/10.4217/OPR.2014.36.2.157

The Economic Feasibility Analysis of Grow out Phase Production of Oyster Farming by Rising Water Temperature  

Choi, Jong Du (Department of Business Administration, School of Business Administration, Cyber University of Korea)
Choi, Young Jun (Department of International Business and Trade Administration, College of Politics and Economics Kyung Hee University)
Publication Information
Ocean and Polar Research / v.36, no.2, 2014 , pp. 157-163 More about this Journal
Abstract
This study analysed the economic feasibility per hectare of grow out phase production of Oyster farming by rising water temperature in Ocean. Elevated Water temperature by climate change had a bad influence for oyster production and economic feasibility. In the case of production units, the total output of oyster decreases from 213,840 to 205,594 units. Using cost-benefit analysis with discounting rates (5.5%), we estimated the net present value (NPV) and benefit cost ratio (BCR) until 2100 years. The model results showed that the NPV without water temperature rise was 1,565,619,893 won and the NPV with water temperature rise was 1,540,493,059 won. Also, BCR estimated that the former was 2.095 better than the latter was 2.077. To summarise, the economic effect per hectare of water temperature rise in ocean did the damage to the economic loss about 25,126,834 won.
Keywords
climate change; water temperature rise; net present value (NPV); benefit cost ratio (BCR); grow out phase production;
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Times Cited By KSCI : 6  (Citation Analysis)
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