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A Stochastic Simulation Analysis Of A Small-Scale Catfish Processing Plant


  • Branch, William
  • Tilley, Daniel S.


Stochastic simulation was used to analyze revenues and costs for a small-scale catfish processing plant under various combinations of operating capacity utilization and price paid for live fish. The probability for a positive level of daily net income ranged from 11 to 100 percent depending on the price paid for live fish and level of operating capacity utilized. Daily average total cost per pound of live fish processed changed by 2.10 percent given a 10 percent change in live fish processed. Short-term cyclical patterns in revenues and costs suggest a need for financial planning to provide for possible year-end revenue shortfalls.

Suggested Citation

  • Branch, William & Tilley, Daniel S., 1992. "A Stochastic Simulation Analysis Of A Small-Scale Catfish Processing Plant," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(02), December.
  • Handle: RePEc:ags:sojoae:29643

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    References listed on IDEAS

    1. Gramlich, Edward M & Rubinfeld, Daniel L, 1982. "Micro Estimates of Public Spending Demand Functions and Tests of the Tiebout and Median-Voter Hypotheses," Journal of Political Economy, University of Chicago Press, vol. 90(3), pages 536-560, June.
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    4. Fisher, Ronald C, 1985. "Taxes and Expenditures in the U.S.: Public Opinion Surveys and Incidence Analysis Compared," Economic Inquiry, Western Economic Association International, vol. 23(3), pages 525-550, July.
    5. Miranowski, John & Nielsen, E. & Morehart, M., 1989. "Investments in Soil Conservation and Land Improvements: Factors Explaining Farmers Decisions," Staff General Research Papers Archive 11145, Iowa State University, Department of Economics.
    6. Deacon, Robert T & Shapiro, Perry, 1975. "Private Preference for Collective Goods Revealed Through Voting on Referenda," American Economic Review, American Economic Association, vol. 65(5), pages 943-955, December.
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