Hedonic Prices for Fish: Tuna Prices in Hawaii

McConnell, Kenneth E.; Strand, Ivar E.

doi:10.1111/0002-9092.00011

Cited by 126 publications

(77 citation statements)

References 11 publications

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“…This approach has been used to quantify the value of various seafood product attributes at the landing point (McConnell and Strand, 2000), the wholesale level (Asche and Guillen, 2012) and the retail level (Roheim, Asche and Insignaris, 2011;SognGrundvåg, Larsen and Young, 2013). These studies typically estimate a single parameter for each product attribute.…”

Section: Model Specificationmentioning

confidence: 99%

“…restricting the use of destructive fishing gear) raises questions about whose behavior the label purports to change and how the premium is transmitted to these agents. 4 Different fishing vessels often receive different prices for the fish that they land even in the absence of certification (McConnell and Strand 2000;Lee, 2014;Asche, Chen, and Smith 2015). Given the individual basis of fish prices and the collective nature of certification, it is unclear how a premium can be transmitted to individual vessels, how they would perceive the premium, and how it maintains incentives at the individual vessel (firm) level.…”

Section: Introductionmentioning

confidence: 99%

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Pricing of eco-labels with retailer heterogeneity

et al. 2015

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Eco-labels are important features of many natural resource and food markets. They certify that a product has some desirable unobserved quality, typically related to a public good such as being sustainably produced. Two issues that have received limited attention are whether pricing varies across different eco-labels that may compete with each other and to what extent different retailers charge different prices. Using a unique data set of salmon prices in eight different United Kingdom retail chains, we investigate these issues by estimating a price-attribute model that includes two eco-labels and one country-of-origin label. Results show substantial variation in the prices of the different eco-labels and that eco-label premiums vary across retail chains. Specifically, salmon certified with the Marine Stewardship Council (MSC) label has a high premium in low-end retail chains but no statistically significant premium in the high-end chains. These findings question the ability of the MSC label to transmit consumer willingness-to-pay for public goods through the supply chain to incentivize sustainable management. In contrast, premiums for organic certification are similar in magnitude across retailer types. In general, failure to account for retailer heterogeneity will over-or under-estimate a label's premium. 2 Pricing of Eco-labels with Retailer HeterogeneityAbstract Eco-labels are important features of many natural resource and food markets. They certify that a product has some desirable unobserved quality, typically related to a public good such as being sustainably produced. Two issues that have received limited attention are whether pricing varies across different eco-labels that may compete with each other and to what extent different retailers charge different prices. Using a unique data set of salmon prices in eight different United Kingdom retail chains, we investigate these issues by estimating a price-attribute model that includes two eco-labels and one country-of-origin label. Results show substantial variation in the prices of the different eco-labels and that eco-label premiums vary across retail chains. Specifically, salmon certified with the Marine Stewardship Council (MSC) label has a high premium in low-end retail chains but no statistically significant premium in the high-end chains. These findings question the ability of the MSC label to transmit consumer willingness-to-pay for public goods through the supply chain to incentivize sustainable management. In contrast, premiums for organic certification are similar in magnitude across retailer types. In general, failure to account for retailer heterogeneity will over-or under-estimate a label's premium.

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Section: Model Specificationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Pricing of eco-labels with retailer heterogeneity

et al. 2015

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“…In the revealed preference literature, hedonic price models [8,41,42,12,27], demand system [47] and case study [39] approaches have been used to estimate relative values for seafood product attributes such as catch method, fishing gear choice, country of origin, product color (of salmon), and environmental sustainability. The two articles most relevant to our paper are Roheim et al [41] applying an hedonic price function approach to scanner data on the sale of frozen, processed Alaskan Pollock in the London metropolitan market to estimate a statistically significant price premium for Marine Stewardship Council certification, and…”

Section: Introductionmentioning

confidence: 99%

Can household consumers save the wild fish? Lessons from a sustainable seafood advisory

Hallstein

Villas-Boas

2013

Journal of Environmental Economics and Management

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Conservation organizations seeking to reduce over-fishing and promote better fishing practices have increasingly turned to market-based mechanisms such as environmental sustainability labels (eco-labels) in order to shift patterns of household consumption. This paper presents an analysis of consumer response to an advisory for sustainable seafood adopted by a regional supermarket in the United States. The advisory consisted of a label in which one of three traffic light colors was placed on each fresh seafood product to inform consumers about its relative environmental sustainability. Green meant "best" choice, yellow meant "proceed with caution," and red meant "worst choice". Using a unique product-level panel scanner data set of weekly sales and taking advantage of the random phase-in of the advisory by the retailer, we apply a differencein-differences identification strategy to estimate the effect of the advisory on overall seafood sales as well as the heterogeneous impact of the advisory by label color and whether the seafood met additional health-related criteria. We find evidence that the advisory led to a statistically significant 15.3% decline in overall seafood sales, a statistically significant 34.9% decline in the sale of yellow labeled seafood, and a statistically significant 41.3% decline in the sale of yellow labeled seafood on a mercury safe list. We find no statistically significant difference in sales of green or red labeled seafood.

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“…For example, Gardner and Brooks (1994), Baulch (1997), Meyer (2004), Asche, Jaffry and Hartmann (2007) and McConnell and Strand (2000) analyzed the prices linkage between geographically separated markets. Gardner and Brooks (1994) examined whether there exists a price relationship among geographically separated food markets in Russia using a cointegration test.…”

Section: Introductionmentioning

confidence: 99%

“…Asche, Jaffry and Hartmann (2007) analyzed market integration and supply chain linkages for the European salmon market. McConnell and Strand (2000) tested the market linkage between Hawaii's and Japan's markets for bigeye tuna and yellowfin tuna. There are also some empirical studies analyzing the inter-species price relationship by using time series ana, including Gordon, Salvanes and Atkins (1993), Bose and McIlgorm (1996), Asche, Bremnes and Wessells (1999) and Jaffry, Pascoe, Taylor and Zabala (2000).…”

Section: Introductionmentioning

confidence: 99%

The Impact of Regulating Bluefin Tuna Exports on the Japanese Tuna Market

Ishida

2015

JFR

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In order to understand the impact of regulating bluefin tuna exports on the Japanese tuna market, we have to clarify the inter-species price relationship. This article investigates the market linkages among four tuna species, bluefin tuna, albacore tuna, bigeye tuna and yellowfin tuna, in Japan. Vector autoregressive distributed lag (VARDL) model is used to simulate the impact of a decrease in the bluefin tuna supply on the price of bluefin tuna and other species. The result is that regulating bluefin tuna exports raise only the price of bluefin tuna but have little impact on the prices of other tuna species.

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Hedonic Prices for Fish: Tuna Prices in Hawaii

Cited by 126 publications

References 11 publications

Pricing of eco-labels with retailer heterogeneity

Pricing of eco-labels with retailer heterogeneity

Can household consumers save the wild fish? Lessons from a sustainable seafood advisory

The Impact of Regulating Bluefin Tuna Exports on the Japanese Tuna Market

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