Fisheries Economics

3.2.5. Production function analysis - a case study in aquaculture

In carp culture, the quantity of fish farmed represents the output for which various inputs like seed, feed fertilisers etc. are used. The Cobb-Douglas production function in carp culture could be specified as follows:

Y	=	f (m, u, s, F, r, g, 1)
where,
Y	=	output of farmed carps in kg/ha.
m	=	cattle manures in kg/ha
u	=	urea in kg/ha
s	=	super phosphate in kg/ha
F	=	stocking density in numbers/ha
r	=	rice bran in kg/ha
g	=	groundnut oil cake in kg/ha
l	=	labour in mandays

The above equation could be solved with required data set in a computer using an appropriate analytical software like SPSS or Limdep or even Excel. Some researchers prefer to exclude pond area as influence of pond area, or to be precise, the mean pond water volume on yield, is to be studied and then it may also be included. However, when the ponds are classified, according to their area or volume into different groups, then the variable may be excluded.