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Dissertation/Thesis Abstract

Optimal Portfolio Design to Manage Oyster Resources
by Nyanzu, Frederick, M.S., Mississippi State University, 2019, 259; 13902272
Abstract (Summary)

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 with attention directed towards off-bottom oyster farms.

Indexing (document details)
Advisor: Petrolia, Daniel R.
Commitee: Yun, Seong, Harri, Ardian
School: Mississippi State University
Department: Agricultural Economics
School Location: United States -- Mississippi
Source: MAI 81/2(E), Masters Abstracts International
Subjects: Environmental economics, Agricultural economics, Economics
Keywords: Delphi elicitation, Ecosystem services, Mississippi, Modern portfolio theory (MPT), Oyster resources, Portfolio desgin
Publication Number: 13902272
ISBN: 9781085763110
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