The Value of Information in Salmon Farming: Harvesting the Right Fish to the Right Time
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Research regarding management practice in fish farming has traditionally focused on two topics: production planning and forecasting of prices. This article combine these two areas of research, and illustrate how information of price patterns can change production plans, and hence increase the value of the farm enterprise. We present a model farm and illustrate with different levels of price information how information of future prices alter the original production plan and hence create extra value for the farmer. The phrasing of the paper and the empirical application are on salmon and salmon farming, but the ideas and general results should be applicable to all farmed species.