Theses and Dissertations
Issuing Body
Mississippi State University
Advisor
Petrolia, Daniel R.
Committee Member
Yun, Seong
Committee Member
Harri, Ardian
Date of Degree
8-9-2019
Document Type
Graduate Thesis - Open Access
Major
Agricultural Economics
Degree Name
Master of Science
College
College of Agriculture and Life Sciences
Department
Department of Agricultural Economics
Abstract
The State of Mississippi wants to manage its oyster resource to increase production, quality, ecological, and economic benefits. In this study, we employ modern portfolio theory (MPT) to test if there are potential gains to hold multiple oyster resources for multiple benefits to aid the state's effort in achieving its goal. Using a Delphi approach, we elicit complete sets of data on ecosystem services (on oxygen, nutrients, sedimentation, and salinity) across multiple oyster resources (traditional plantings, off-bottom farms, and restored reefs). A benefit transfer method is used later to assigned money-metric value to each service estimate. The multiple service values are then aggregated into net service value. We compute the means, standard deviations, and correlations of benefits across all resources using the net service values, and generate efficient frontiers from that information. Results indicate that Mississippi could benefit from holding multiple oyster resources while focusing more on off-bottom oyster farms.
URI
https://hdl.handle.net/11668/14522
Sponsorship
NOAA RESTORE Science Program
Recommended Citation
Nyanzu, Frederick, "Optimal portfolio design to manage oyster resources" (2019). Theses and Dissertations. 3391.
https://scholarsjunction.msstate.edu/td/3391
Comments
oyster resources||ecosystem services||modern portfolio theory (MPT)||portfolio design||efficient frontier