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The Environment and the Selection of Aquaculture Species and Systems: An Economic Analysis

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  • Tisdell, Clement A.

Abstract

Environmental conditions play a significant role in the economic success of aquaculture. This article classifies environmental factors in a way that facilitates economic analysis of their implications for the selection of aquaculture species and systems. The implication of on-farm as on-site environmental conditions for this selection are considered first using profit-possibility frontiers and taking into account the biological law of environmental tolerance. However, in selecting, recommending and developing aquaculture species and systems, it is often unrealistic to assume the degree of managerial efficiency implied by the profit-possibility function. It is appropriate to take account of the degree of managerial inefficiency that actually exists, not all of which may be capable of being eliminated. Furthermore, experimental R&D should be geared to on-farm conditions, and the variability of these conditions needs to be taken into account. Particularly in shared water bodies, environmental spillovers between aquaculturalists can be important and as shown theoretically, can influence the socially optimal selection of aquaculture species and systems. Similarly, aquaculture can have environmental consequences for the rest of the community. The social economic implications of this for the selection of aquaculture species and systems are analyzed. Some paradoxical results are obtained. For example, if the quality of social governance of aquaculture is poor, aquaculture species and systems that cause a slow rate of environmental deterioration may be socially less satisfactory than those that cause a rapid rate of such deterioration. Socially optimal choice of aquaculture species and systems depends not only on their biophysical characteristics and market conditions but also on the prevailing state of governance of aquaculture. Failure to consider the last aspect can result in the introduction of new aquaculture species (and systems) doing more social harm than good.

Suggested Citation

  • Tisdell, Clement A., 2005. "The Environment and the Selection of Aquaculture Species and Systems: An Economic Analysis," Economics, Ecology and Environment Working Papers 55091, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqseee:55091
    DOI: 10.22004/ag.econ.55091
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    References listed on IDEAS

    as
    1. Clem Tisdell, 1983. "Law, Economics and Risk‐Taking," Kyklos, Wiley Blackwell, vol. 36(1), pages 3-20, August.
    2. Jack L. Knetsch & J. A. Sinden, 1984. "Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(3), pages 507-521.
    3. Edward B. Barbier & Suthawan Sathirathai (ed.), 2004. "Shrimp Farming and Mangrove Loss in Thailand," Books, Edward Elgar Publishing, number 3252.
    4. Clem Tisdell, 2003. "Economics and Ecology in Agriculture and Marine Production," Books, Edward Elgar Publishing, number 2754.
    5. Clem Tisdell, 1996. "Bounded Rationality and Economic Evolution," Books, Edward Elgar Publishing, number 960.
    6. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-1348, December.
    7. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    8. Clement A. Tisdell, 2005. "Economics of Environmental Conservation, Second Edition," Books, Edward Elgar Publishing, number 3272.
    9. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 9, pages 178-203, Palgrave Macmillan.
    10. P.M.S. Jones, 1994. "The Value of Diversity," Energy & Environment, , vol. 5(3), pages 215-225, September.
    11. Tisdell, Clement A., 2001. "Aquaculture, Environmental Spillovers and Sustainable Developments: Links and Policy Choices," Economics, Ecology and Environment Working Papers 48383, University of Queensland, School of Economics.
    12. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62(2), pages 124-124.
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    Cited by:

    1. Serge Svizzero & Clement Allan Tisdell, 2014. "The Neolithic Revolution and Human Societies: Diverse Origins and Development Paths," Working Papers hal-02153090, HAL.
    2. Serge Svizzero & Clement Allan Tisdell, 2014. "Hunter-Gatherer Societies: Their Diversity and Evolutionary Processes," Working Papers hal-02152682, HAL.

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