accumulative effect of numerous small losses must also be 

 recognized in a risk management program. Several suggestions are 

 made to achieve risk reduction and a satisfactory insurance 

 program. Good records to establish loss values, loss-preventive 

 action, loss-mitigative action, large deductibles, timely 

 adjustment of coverage in inflationary periods, and risk 

 iranagement analysis are among the factors considered. 

 Subject descriptors: 

 Insurance; risks; general description. 



250 



Shang, Yung C. 



1973. 



Comparison of the economic potential of aguaculture, land animal 



husbandry and ocean fisheries: the case of Taiwan. 



Aguaculture 2(4): 187-195. 



The comparison is based on productivity, cost, internal rate of 



return (IRR) , Taiwanese consumer demand, expected growth, and 



nutritional information and analyses. Taiwanese aguaculture 



includes brackish water (milkfish) , freshwater (carps and 



tilapia) and shallow sea (mostly oysters) production. Ocean 



fisheries are divided into deep-sea (mostly tuna and tunalike 



species for export), inshore, and coastal fisheries categories. 



Hog raising is the most important and well established form of 



land animal husbandry. At present, the IRR's for all culture 



methods exceed those for ocean fisheries and hog farming. With 



some government and industry development programs, culture 



technology and management are expected to improve, allowing for 



lower cosTts, whereas ocean fishery costs are not expected to 



change (given the present advanced state of technology) . In 



terms of calorie and protein content, protein cost, guality, and 



consumer preference comparisons, fish culture seems to have a 



distinct advantage in Taiwan. Labor productivity (kilograms of 



output per man year) , geographic productivity (kilograms per 



hectare), and average costs of output (U.S. $ per kilogram) may 



result JLn different rankings than the IRR criterion. Lata for 



some of these variables are given for both average and superior 



management conditions. 



Subject descriptors: 



Taiwan; enterprise comparison; costs; returns; productivity; 



consumption data; demand; supply; outlook. 



251 



Smith, Leah J. ; Huguenin, John E. 



1975. 



The economics of waste water--aguaculture systems. 



1975 IEEE [Institute of Electrical and Electronics Engineers] 



Conference Record on Engineering in the Ocean Environment, Ocean 



•75, September 22-25, 1975, pp. 285-293. 



Based on a system developed at Woods Hole Ocenaographic 



Institution, the "design, performance, and resulting costs of 



115 



