Safety-first and chance-constrained production planning models for fish farms

摘要

The paper presents two single period portfolio selection models for production planning in fish farms. One of them is a safety first model and the other one is a chance constrained model. The models belong to the class of stochastic programming models and represent an alternative to mean-variance models. Some of the variables of the models are binary and others belong to the reals. In order to solve the models heuristic algorithms and computer simulation must be used.