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http://dx.doi.org/10.12939/FBA.2016.47.4.065

An Analysis of Production and Marketing Control Effect of Aqua-cultured Flounder Using Supply and Demand Models  

Ko, Bong-Hyun (Jeju Development Institute)
Publication Information
The Journal of Fisheries Business Administration / v.47, no.4, 2016 , pp. 65-75 More about this Journal
Abstract
The purpose of this study was to analyze the production and marketing control effects of aqua-cultured flounder required for stable income growth of aqua-cultured household. We analyzed the supply and demand structure of cultured flounder using the partial equilibrium model approach. And we estimated the optimal yield of cultured flounder and analyzed the effect of marketing control through constructed model. The main results of this study are summarized as follows. First, the fitness and predictive power of the estimated model showed that the RMSPE and MAPE values were less than 5% and Theil's inequality coefficient was very close to 0 rather than 1. It was evaluated that the prediction ability of the aqua-cultured flounder supply and demand model by dynamic simulation was excellent. Second, dynamic simulation based on policy simulation was conducted to analyze the price increase effect of production and shipment control of cultured flounder. As a result, if the annual production volume is reduced by 1%, 5%, and 10% among 32,852~37,520 tons, it is analyzed that the price increase effect is from 1.2% to 12.5%. Finally, this study suggests that the production and marketing control can increase the price of aqua-cultured flounder in the market. In this paper, we propose a policy implementation of the total supply system instead of conclusions.
Keywords
Aqua-cultured Flatfish; Supply-Demand Model; Partial Equilibrium Model; RMSPE; Production and the Marketing Control;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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