The Purpose of this research is to analyze and discuss the development of yellowtail aquaculture industry in Japan and its management structure. The research includes the following : (a) It confirms the industrial conditions of yellowtail aqaculture which has a national technical and mass production system that has been developed at great speed. (b) It analyzes yellowtail aqaculture development from a family - oriented management to a large scale production. (c) It examines how the fisheries cooperatives harmonized their role with the object of individual aqaculture management and aqaculture fishing ground management. The reasons for this study focusing on the yellowtail aqaculture industry of Japan are : (a) The yellowtail aqaculture is regared as a typical field in aqaculture because it reflects the general aqaculture history, quantity of fisheries aqaculture product, the number of fishermen involved in this industry, technology , and the live and fish market formation in Japan. (b) The aqaculture has the most powerful entrepreneurial in financial and management style. The aqaculture industry also has a most individual management style which includes planned production and shipping strategy. This research has attempted to study the industrial processes of fisheries aqaculture industry and its management development, and focused on the yellowtail aqaculture industry of Japan. This work also includes data about the aqaculture management of fisheries cooperatives and case by case analysis of aqaculture production. The following results were obtained from this study : First, even though ocean, weather conditions, and widespread propagation of places suitable for aqaculture in Japan were crucial factors in aqaculture development, it must be pointed out that fisheries policy in Japan changed from "catching" in the 1960s to "cultivating". Second, the widespread course of fisheries cultivating technology in Japan has had two characteristics. One is that early aqaculture technology spread to the southern part of Japan and the other is that the metal nets were widely used in the northern part in the 1970s. Japan's yellowtail aqaculture industry's overproduction was due to metal nets. However, the use of mwtal nets also contributed to the improvement of aqaculture and the strategic aspects of aqaculture management. In addition, it should be stressed that Kagoshima prefecture as the pioneer of metal nets contributed to fisheries aqaculture development in japan. Third, as aqaculture technology developed, entrepreneurial qualities of aqaculture management also developed this field into a large scale business. Even though it is not clear, large scale management of yellowtail aqaculture shows evidence of superiority over small andmedium - size management of yellowtail aqaculture. Fourth, yellowtail aqaculture management in Japan hascontributed to the production system and aqaculture strategy to meet consumers' needs and market demands from weather - oriented trational fisheries industry, which overcame their overproduction structure. Fifth, Japanese fisheries cooperative played very important roles in the prevention of fishing grounds production from destruction and in promoting suitable aqaculture facilities so that aqaculture could grow continually.ld grow continually.

This paper tries to estimate cost and profit functions under Cobb - Douglas production technology in the coastal fishing, using duality theory of production technology and cost function. Therefore this paper estimates in advance the production functions with two input variables, the number of working persons per tonage(WEMP) and the number of fishing equipment per tonage(WEQU). Then this paper estimates profit function and implicit cost function using the estimated coefficients from production functions. The results of this study show that the annual average profit pertonage of long bag set fishing and trap fishing amount to 4.1 million won and 3.9 million won respectively.

While overall input of oil into the sea has actually declined over the years 1975-92, major spills have regularly occurred in certain locations which have had serious effects upon local environments and hence caused public outcry. The purpose of this paper is to suggest the scheme for maximizing the compensation for oil pollution, which can be adopted in Korea, by analysing the mandatory 1969 Civil Liability Convention(CLC), the 1971 Fund Convention and two voluntary schemes (TOVALOP andCRISTAL). The paper examines the major subjects which are as follows : major pollution incidents and international response, the present situation of oil pollution in Korea, the role of flag of convenience tankers in oil pollution, the mode of oil pollution damages and tanker owner's liability, international compensation system fer oil pollution, Korean compensation system for oil pollution damage, and its problems to be tackled.

This paper is to survey the major results of the game-theoretic models and recent research directions of the literature on auctions and competitive biddings. This paper classifies the auctions and competitive biddings into the following four major types:(i) English auction, (ii) Dutch auction, (iii) the first-price sealed-bid auction, (iv) the second-price sealed-bid auction. In order to survey the major ideas related to auctions and competitive biddings, we use two representative theoretical models developed under the game-theoretic framework : (i) the independent private value model are summarized as follows ; (1) The Dutch auction and the first-price auction are strategically equivalent, and so are the English auction and the second-price auction. (2) At the symmetric equilibria, the expected selling price is the same for all four types of auction. Meanwhile, the major results of the general model are as follows ; (1) When bidders are uncertain about their value extimate, the English and second-price auctions are not equivalent, but the dutch and the first-price auctions are still strategically equivalent. (2) The English auction generates the higher expected prices than the second-price auction. Also, when bidders are risk-neutral, the second-price auction generated higher average prices than the Dutch and the first-price auctions.

We consider the continous, deterministic, infinite horiton, perishable item inventory, within the setting of a retail sector, in which the price for an item is dependent on the lifetime of inventory. Replenishment cost is kept constant but the carrying cost per units is allowed to vary according to product lifetime. Tro possibilities of variation are considered : (1) Product lifetime is longer than cycletime and (2) Product lifetime is shorter than cycletime. We find the optimal policies and decision rules for perishable product.

The objetives of this study are to find the economic feasibility of the polyculture and to give the economic information of the polyculture for aquaculture fishermen. The polyculture is defined as the rearing of several species together to make more efficient use of the growing space and the total ground environment. The economic feasibility analysis in the polyculture involves the profitability, the productivity, and the risk reduction effect. The results of the economic feasibility analysis in the polyculture are as follows; First, in the profitability analysis, the solid utilization of ground in the polyculture is more profitable than the monoculture. The profitability owing to the plane utilization of the ground in the polyculture is positioned between those of the monoculture of each speices. Second, in the productivity analysis, oyster and sea squirt are diminishing returns to scale. Third, the variation on the average rate of return in the polyculture products is smaller than that of the monoculture. Finally, the result of comparison between the polyculture and the monoculture shows that the polyculture in coastal area is more profitable and more efficient than the monoculture. Most of cultivating species are selective in their diet Thus, stocking different kinds of cultivating species will efficiently utilize space and food It seems that polyculture is more appropriate for those species that live in different ecological niches. We think that the production per unit of ground can be increased, and the fixed cost per unit of output be reduced, so the polyculture is more profitable than the monoculture. Based on the above results, we concludes that the polyculture is economically feasible when profitability and productivity are increased and simultaneously the variation of average rate of return in the polyculture is smaller than that of the monoculture.