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An Estimation on the Market Size of Aqua-cultured Flatfish in Korea
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 Title & Authors
An Estimation on the Market Size of Aqua-cultured Flatfish in Korea
Kim, Bae-Sung; Kim, Chung-Hyeon; Cho, Jae-Hwan; Lee, Nam-Su;
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 Abstract
The purpose of This paper is to address the development on supply-demand outlook model of aqua-cultured korean Flatfish and introduces a projection of supply-demand and market prices during 2015-2017 using developed model. The supply-demand outlook model is composed as a partial equilibrium model of Korean Flat fish. Each equation in the model is estimated by the econometric techniques. A reviews of the demand-outlook model stability is also carried out by the references based on RMSPE. MAPE, and Theil's inequality coefficients. According to the reference of RMSPE, the error rates of the forecasting values of the aqua culture area, culturing quantity, production quantity, market price show less than 4%, The production quantity and farm price are predicted respectively to be 42,561MT and 10,191KW per kg in 2017.
 Keywords
Aqua-cultured Korean Flatfish;Supply-Demand Outlook model;Partial Equilibrium Model;RMSPE;Theil's inequality Coefficient;
 Language
Korean
 Cited by
 References
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