Econometric models applied to aquaculture as tools for sustainable production

Abstract

Aquaculture production must keep increasing if seafood demand is to be met. This increase in production has substantial impacts on the three pillars of sustainability (i.e. economy, society and environment). To fairly assess the effects that industry has, several tools have been used, mainly theoretical bioeconomic analysis. Even though theoretical models are essential for the assessment of sustainability, the application of econometric models that rely on empirical data to validate the theory proposed is a priority. The objective of this work was to analyse state of the art related to the use of econometric models in aquaculture industry and categorize findings according to their relationship with any of the three pillars of sustainability to promote the implementation of tools that allow balancing growth of the sector with rational use of resources. The study is divided into five sections. First, the introduction describes the current state of aquaculture, difficulties in management and use of econometric models as tools for improving it. Second, the methods used to develop the bibliometric and bibliographic review are described alongside the research questions. Third, the results of the literature review and categorization are proposed according to the sustainability pillars. Fourth, possible new applications of econometric models are discussed to assess sustainability challenges. Finally, a conclusion of the research is provided stating the benefits and challenges of the use of econometric models in aquaculture.

The use of probiotics in larval whiteleg shrimp ( Litopenaeus vannamei ) production: A marginal analysis of bioeconomic feasibility

“…Peñalosa‐Martinell et al. (2019) implemented an applied multidisciplinary approach using bio‐economics and bio‐econometrics that facilitated identifying the optimal points that minimized waste and maximized yield. This approach led not only to a sustainable production from an environmental perspective but also in terms of biological, technological and economic considerations as well.…”

A fuzzy approach to decision‐making in sea‐cage aquaculture production

“…All this does constitute substantial progress to meet specific needs or gaps in the development of OR models in aquaculture that consider simultaneously all aspects of long‐term sustainability (Peñalosa et al., 2020). In addition, the development of this methodology also has significant implications in practice for both producers and regulators.…”

“…Now, a few authors have integrated multi-criteria methodologies in their OR models including, for example, Dapueto et al (2015), Shih (2017), or Luna et al (2019aLuna et al ( , 2019b. However, there is a clear imbalance between economic or financial studies and those that take into account the social and environmental criteria (Peñalosa et al, 2020).…”

“…(2019a, 2019b). However, there is a clear imbalance between economic or financial studies and those that take into account the social and environmental criteria (Peñalosa et al., 2020).…”

“…Although the economic performance of a company is usually the decision criterion in aquaculture studies, several authors have highlighted the need for a higher effort to include all aspects of sustainability in future research to help bring the industry closer to sustainable development (Peñalosa et al., 2020). Furthermore, green production can enhance the profitability of companies, building a better brand image and allowing producers to enter in new markets or sales channels (Papagiannakis et al., 2014; Zhang et al., 2020).…”