Friday , September 21 2018

A Portfolio Theory Approach to Fishery Management

Marius RĂDULESCU1, Constanţa Zoie RĂDULESCU2,
Magdalena Turek RAHOVEANU3, Gheorghiţă ZBĂGANU4

1 Institute of Mathematical Statistics and Applied Mathematics
Casa Academiei Române, 13, Calea 13 Septembrie,
Bucharest 5, RO-050711, Romania
mradulescu@csm.ro
2 I C I Bucharest
(National Institute for R & D in Informatics)
8-10 Averescu Blvd.
011455 Bucharest 1, Romania
radulescu@ici.ro

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3 Institute for Agricultural Economics and Rural Development
Bd. Măraşti nr. 61, Bucharest 1, RO-011464, Romania
mturek2003@yahoo.com
4 Faculty of Mathematics and Computer Science, University of Bucharest

Academiei 14, Bucharest, RO-010014, Romania
zbagang@fmi.unibuc.ro

Abstract: Several portfolio selection models for fishery management are presented. The financial risk is measured by the first lower partial moment of the return. The purpose of the models is to obtain optimal fishing plans that minimize the financial risk or maximize the expected return. The ranges of variation for the parameters of the minimum risk model are determined. A numerical example for a fishery from the Galati county, Romania is analyzed.

Keywords: portfolio selection, fishery management, lower partial moment, risk, maximum sustainable yield, risk.

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CITE THIS PAPER AS:
Marius RĂDULESCU, Constanţa Zoie RĂDULESCU, Magdalena Turek RAHOVEANU, Gheorghiţă ZBĂGANU, A Portfolio Theory Approach to Fishery Management, Studies in Informatics and Control, ISSN 1220-1766, vol. 19 (3), pp. 285-294, 2010.