Pub Date : 2022-08-03DOI: 10.1080/13657305.2022.2104403
M. Svanidze, Guðrún Ólafsdóttir, I. Đurić, M. Thakur
Abstract This study investigates price relationships along the Norwegian salmon value chains in France, the EU’s leading consumption market for salmon, and Poland, the EU’s largest “processing hub.” Using a vector error correction model framework, our results indicate that the salmon price determination is a supplier-driven process, with the export prices in Norway influencing prices in France and Poland, but not vice versa. Results also suggest that price linkages are strong between the export market in Norway and the retail market in France and the processing industry in Poland; however, the Polish retail sector is separated from markets at the upstream level, while price discovery at the French wholesale market is dominated by the retail market. Our findings imply that the evolved market structures lead to efficiently functioning retail markets in France and wholesale markets in Poland, but put the French wholesale and Polish retail markets at a disadvantage.
{"title":"Price relationships along the Norwegian salmon value chains: A comparative study of the leading consumption market in France and the largest processing industry in Poland","authors":"M. Svanidze, Guðrún Ólafsdóttir, I. Đurić, M. Thakur","doi":"10.1080/13657305.2022.2104403","DOIUrl":"https://doi.org/10.1080/13657305.2022.2104403","url":null,"abstract":"Abstract This study investigates price relationships along the Norwegian salmon value chains in France, the EU’s leading consumption market for salmon, and Poland, the EU’s largest “processing hub.” Using a vector error correction model framework, our results indicate that the salmon price determination is a supplier-driven process, with the export prices in Norway influencing prices in France and Poland, but not vice versa. Results also suggest that price linkages are strong between the export market in Norway and the retail market in France and the processing industry in Poland; however, the Polish retail sector is separated from markets at the upstream level, while price discovery at the French wholesale market is dominated by the retail market. Our findings imply that the evolved market structures lead to efficiently functioning retail markets in France and wholesale markets in Poland, but put the French wholesale and Polish retail markets at a disadvantage.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"382 - 404"},"PeriodicalIF":3.9,"publicationDate":"2022-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44303999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-29DOI: 10.1080/13657305.2022.2100005
Nelyda Campos-Requena, Felipe Vásquez-Lavín, Francisco Fernández, Manuel Barrientos, S. Gelcich, Roberto D. Ponce Oliva
Abstract This study uses a choice experiment to characterize market segments (consumer preferences heterogeneity) based on three attributes of seafood (mussels) that are affected by ocean acidification: shell appearance, meat color, and nutritional composition. Using a sample of 1,257 individuals from two main cities in Chile, we estimate both the Mixed Logit model and the Latent Class model. We use the individual-specific posterior (ISP) parameters’ distribution to categorize consumers’ heterogeneity based on the signs and intensity (i.e., like or dislike dimension) of these ISPs. We compare the pattern of preferences and whether people are classified within the same preference pattern in both models. In general, we observed that the models identify a different number of segments with various patterns of preferences. Moreover, the models classify the same people into different groups. Since the segmentation is sensitive to the chosen model, we discuss strengths, inconsistencies, biases, and best practices regarding methodological approaches to establishing market segments in choice experiments and future ocean acidification conditions.
{"title":"A comparison of mixed logit and latent class models to estimate market segments for seafood faced with ocean acidification","authors":"Nelyda Campos-Requena, Felipe Vásquez-Lavín, Francisco Fernández, Manuel Barrientos, S. Gelcich, Roberto D. Ponce Oliva","doi":"10.1080/13657305.2022.2100005","DOIUrl":"https://doi.org/10.1080/13657305.2022.2100005","url":null,"abstract":"Abstract This study uses a choice experiment to characterize market segments (consumer preferences heterogeneity) based on three attributes of seafood (mussels) that are affected by ocean acidification: shell appearance, meat color, and nutritional composition. Using a sample of 1,257 individuals from two main cities in Chile, we estimate both the Mixed Logit model and the Latent Class model. We use the individual-specific posterior (ISP) parameters’ distribution to categorize consumers’ heterogeneity based on the signs and intensity (i.e., like or dislike dimension) of these ISPs. We compare the pattern of preferences and whether people are classified within the same preference pattern in both models. In general, we observed that the models identify a different number of segments with various patterns of preferences. Moreover, the models classify the same people into different groups. Since the segmentation is sensitive to the chosen model, we discuss strengths, inconsistencies, biases, and best practices regarding methodological approaches to establishing market segments in choice experiments and future ocean acidification conditions.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"282 - 314"},"PeriodicalIF":3.9,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44788769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-19DOI: 10.1080/13657305.2022.2099480
Martinson Ankrah Twumasi, Dennis Asante, I. Asante, B. Addai, Yuansheng Jiang
Abstract This study assesses the factors influencing of access to financial services (AFS) and its impact on fish farm economic performance by employing a multiple-stage random sampling approach to sample 131 fish farms from two regions in Ghana. We accounted for the selection bias issue using the endogenous treatment regression model. The results reveal that factors such asgender, education, fish farm size, asset ownership, off-farm work, and distance influence farmers' access to financial services. The result also showed that AFS improves fish farm economic performance. Moreover, we observe that female farmers and high-income households with access to financial services have higher fish yields and net returns than their counterparts. The study’s findings have provided evidence that AFS can be a transmission route in the efforts to enhance aquaculture development in the nation. Our results serve as a call to the government and policymakers to provide strategies and methods to make financial services accessibility easy and straightforward.
{"title":"Assessing fish farm economic performance and access to financial services nexus: Empirical evidence from Ghana","authors":"Martinson Ankrah Twumasi, Dennis Asante, I. Asante, B. Addai, Yuansheng Jiang","doi":"10.1080/13657305.2022.2099480","DOIUrl":"https://doi.org/10.1080/13657305.2022.2099480","url":null,"abstract":"Abstract This study assesses the factors influencing of access to financial services (AFS) and its impact on fish farm economic performance by employing a multiple-stage random sampling approach to sample 131 fish farms from two regions in Ghana. We accounted for the selection bias issue using the endogenous treatment regression model. The results reveal that factors such asgender, education, fish farm size, asset ownership, off-farm work, and distance influence farmers' access to financial services. The result also showed that AFS improves fish farm economic performance. Moreover, we observe that female farmers and high-income households with access to financial services have higher fish yields and net returns than their counterparts. The study’s findings have provided evidence that AFS can be a transmission route in the efforts to enhance aquaculture development in the nation. Our results serve as a call to the government and policymakers to provide strategies and methods to make financial services accessibility easy and straightforward.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"249 - 266"},"PeriodicalIF":3.9,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49165818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-03DOI: 10.1080/13657305.2022.2074171
Prasanna Surathkal, M. Dey, Pratheesh O. Sudhakaran
Abstract The U.S. catfish aquaculture industry is arguably one of the earliest aquaculture segments in the world to industrialize, and a pioneer in demonstrating the benefits of innovation-driven aquaculture supply chain development over wild-harvested fisheries. However, the industry substantially contracted through the 2003–2013 period. High and volatile feed prices, volatile farm prices, a rapid surge in low-priced imports, and a strict regulatory compliance burden on a maturing industry are thought to be some of the major factors causing this decline. We analyze the price volatility spillovers in the U.S. catfish industry and the related feed/feed ingredient markets. Our empirical model is the multivariate generalized autoregressive conditional heteroscedasticity (GARCH) model allowing for cross-market and own-market impacts from shocks and volatilities in prices. Our results indicate bidirectional spillovers among catfish market prices and most of the feed ingredient prices.
{"title":"Dynamics of price volatility spillover in the U.S. catfish market","authors":"Prasanna Surathkal, M. Dey, Pratheesh O. Sudhakaran","doi":"10.1080/13657305.2022.2074171","DOIUrl":"https://doi.org/10.1080/13657305.2022.2074171","url":null,"abstract":"Abstract The U.S. catfish aquaculture industry is arguably one of the earliest aquaculture segments in the world to industrialize, and a pioneer in demonstrating the benefits of innovation-driven aquaculture supply chain development over wild-harvested fisheries. However, the industry substantially contracted through the 2003–2013 period. High and volatile feed prices, volatile farm prices, a rapid surge in low-priced imports, and a strict regulatory compliance burden on a maturing industry are thought to be some of the major factors causing this decline. We analyze the price volatility spillovers in the U.S. catfish industry and the related feed/feed ingredient markets. Our empirical model is the multivariate generalized autoregressive conditional heteroscedasticity (GARCH) model allowing for cross-market and own-market impacts from shocks and volatilities in prices. Our results indicate bidirectional spillovers among catfish market prices and most of the feed ingredient prices.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"301 - 313"},"PeriodicalIF":3.9,"publicationDate":"2022-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46911270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-03DOI: 10.1080/13657305.2022.2102091
Hans‐Martin Straume, Pratheesh O. Sudhakaran
This special issue of Aquaculture Economics & Management features fives articles based on the 25 contributions presented at the International Association of Aquaculture Economics and Management (IAAEM) spon-sored section on economics and marketing at the Aquaculture America conference in San Antonio, August 11 – 14, 2021. This was a very good turn-out for one of the first aquaculture conference following the Covid-19 pandemic. The contributions covered topics on different farmed species groups and with a global scope. The section provided an arena to discuss issues related to risk management, regulations, trade, seafood certification, consumers ’ preferences, market integration, product differentiation, mari-culture tourism, food security, effects and contribution of aquaculture to the regional economy. The papers in this special issue reflect a variety of topics also seen in the section during the conference.
{"title":"Seafood markets in transition","authors":"Hans‐Martin Straume, Pratheesh O. Sudhakaran","doi":"10.1080/13657305.2022.2102091","DOIUrl":"https://doi.org/10.1080/13657305.2022.2102091","url":null,"abstract":"This special issue of Aquaculture Economics & Management features fives articles based on the 25 contributions presented at the International Association of Aquaculture Economics and Management (IAAEM) spon-sored section on economics and marketing at the Aquaculture America conference in San Antonio, August 11 – 14, 2021. This was a very good turn-out for one of the first aquaculture conference following the Covid-19 pandemic. The contributions covered topics on different farmed species groups and with a global scope. The section provided an arena to discuss issues related to risk management, regulations, trade, seafood certification, consumers ’ preferences, market integration, product differentiation, mari-culture tourism, food security, effects and contribution of aquaculture to the regional economy. The papers in this special issue reflect a variety of topics also seen in the section during the conference.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"253 - 258"},"PeriodicalIF":3.9,"publicationDate":"2022-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44540579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-03DOI: 10.1080/13657305.2022.2107117
C. Engle, P. Leung
{"title":"A tribute to Professor Clem Tisdell (1939 to 2022), founding coeditor of Aquaculture Economics & Management and member of the organizing team of the International Association of Aquaculture Economics & Management","authors":"C. Engle, P. Leung","doi":"10.1080/13657305.2022.2107117","DOIUrl":"https://doi.org/10.1080/13657305.2022.2107117","url":null,"abstract":"","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"251 - 252"},"PeriodicalIF":3.9,"publicationDate":"2022-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45127208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-24DOI: 10.1080/13657305.2022.2089772
M. Khan, M. Hossain, Md. Sayemul Islam, Md. Takibur Rahman, M. Dey
Abstract This study aims to explore the shrimp export competitiveness of Bangladesh, China, India, Indonesia, Thailand, and Vietnam time spanning from 1990 to 2019. However, emphasizing Bangladesh as a case country, this research looks into the factors influencing shrimp export competitiveness taking into account macroeconomic and policy variables. To do so, we used the recently developed Revealed Symmetric Comparative Advantage (RSCA) index to quantify export competitiveness, while a novel dynamic autoregressive distributed lag (ARDL) simulation approach to determine the factors driving shrimp export competitiveness. The findings show that all of the aforementioned countries seem to have some degree of shrimp export competitiveness during the study period, whereas Chain has entirely lost its export competitiveness after 2004. However, Bangladesh's shrimp export competitiveness has dipped marginally in recent years, despite continuous growth in competitor countries such as India, Indonesia, and Vietnam. Further, economic globalization, institutional quality, trade openness, number of trade agreements, and trade freedom all have a favorable impact on Bangladesh’s shrimp export competitiveness in the long-run, whereas the international or exporting price of shrimp has a detrimental influence in short-and long-run. Finally, these findings may have implications for a future shrimp export from Bangladesh and some policy recommendation are presented.
{"title":"Shrimp export competitiveness and its determinants: a novel dynamic ARDL simulations approach","authors":"M. Khan, M. Hossain, Md. Sayemul Islam, Md. Takibur Rahman, M. Dey","doi":"10.1080/13657305.2022.2089772","DOIUrl":"https://doi.org/10.1080/13657305.2022.2089772","url":null,"abstract":"Abstract This study aims to explore the shrimp export competitiveness of Bangladesh, China, India, Indonesia, Thailand, and Vietnam time spanning from 1990 to 2019. However, emphasizing Bangladesh as a case country, this research looks into the factors influencing shrimp export competitiveness taking into account macroeconomic and policy variables. To do so, we used the recently developed Revealed Symmetric Comparative Advantage (RSCA) index to quantify export competitiveness, while a novel dynamic autoregressive distributed lag (ARDL) simulation approach to determine the factors driving shrimp export competitiveness. The findings show that all of the aforementioned countries seem to have some degree of shrimp export competitiveness during the study period, whereas Chain has entirely lost its export competitiveness after 2004. However, Bangladesh's shrimp export competitiveness has dipped marginally in recent years, despite continuous growth in competitor countries such as India, Indonesia, and Vietnam. Further, economic globalization, institutional quality, trade openness, number of trade agreements, and trade freedom all have a favorable impact on Bangladesh’s shrimp export competitiveness in the long-run, whereas the international or exporting price of shrimp has a detrimental influence in short-and long-run. Finally, these findings may have implications for a future shrimp export from Bangladesh and some policy recommendation are presented.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"221 - 248"},"PeriodicalIF":3.9,"publicationDate":"2022-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46825493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-22DOI: 10.1080/13657305.2022.2089771
L. Salazar, J. Dresdner
Abstract The impact that added competition of imported mussels from Chile might have had on market prices is one of the main reasons given to explain the decrease in the economic performance of the mussel aquaculture sector in the European Union (EU) in the last two decades. This hypothesis has not yet been tested. In this article we test empirically for price leadership and market integration in the EU mussel market. We estimate a cointegrated vector autoregressive (CVAR) model for the French, Italian, and Spanish mussel import markets and test for price leadership. The results indicate that the import prices of Chile, Belgium, Spain, Ireland, Italy and the Netherlands are determined within a fully integrated market, so prices are proportional over time. All countries follow the lead of Chilean mussel prices in the French market, which are on average among the lowest of the main importers in this market. These results support the opinion that added competition from Chilean mussels may have contributed to the low prices in the EU market.
{"title":"Do Chilean imports lead prices in the EU mussel market?","authors":"L. Salazar, J. Dresdner","doi":"10.1080/13657305.2022.2089771","DOIUrl":"https://doi.org/10.1080/13657305.2022.2089771","url":null,"abstract":"Abstract The impact that added competition of imported mussels from Chile might have had on market prices is one of the main reasons given to explain the decrease in the economic performance of the mussel aquaculture sector in the European Union (EU) in the last two decades. This hypothesis has not yet been tested. In this article we test empirically for price leadership and market integration in the EU mussel market. We estimate a cointegrated vector autoregressive (CVAR) model for the French, Italian, and Spanish mussel import markets and test for price leadership. The results indicate that the import prices of Chile, Belgium, Spain, Ireland, Italy and the Netherlands are determined within a fully integrated market, so prices are proportional over time. All countries follow the lead of Chilean mussel prices in the French market, which are on average among the lowest of the main importers in this market. These results support the opinion that added competition from Chilean mussels may have contributed to the low prices in the EU market.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"207 - 220"},"PeriodicalIF":3.9,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45109473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-08DOI: 10.1080/13657305.2022.2079762
R. Pincinato, Atle Oglend, Renata Melon Barroso Bertolini, A. E. Muñoz
Abstract We analyze fish pricing in the São Paulo wholesale market, the second largest seafood market in South America. Quantitative price analysis is complemented by interviews with participants in the value chain to answer how the multitude of fish products supplied in this market are related and the challenges facing future growth. The results reveal a clear separate pricing of domestically produced fishery species (whitefish and pelagics) from the internationally traded aquaculture species (tilapia and salmon). Tilapia and salmon are uniquely priced, less volatile and more persistent with a price dynamic more akin to local terrestrial meats. Fishery prices show large month-by-month fluctuations and compete more with each other. Participants in the different levels of the value chain corroborate the uniqueness of salmon and state a preference for stable availability and low prices, with less concern about the specific sourcing of fish (aquaculture/fisher, or domestic/imported).
{"title":"The São Paulo wholesale seafood market: A study of fish prices in Brazil","authors":"R. Pincinato, Atle Oglend, Renata Melon Barroso Bertolini, A. E. Muñoz","doi":"10.1080/13657305.2022.2079762","DOIUrl":"https://doi.org/10.1080/13657305.2022.2079762","url":null,"abstract":"Abstract We analyze fish pricing in the São Paulo wholesale market, the second largest seafood market in South America. Quantitative price analysis is complemented by interviews with participants in the value chain to answer how the multitude of fish products supplied in this market are related and the challenges facing future growth. The results reveal a clear separate pricing of domestically produced fishery species (whitefish and pelagics) from the internationally traded aquaculture species (tilapia and salmon). Tilapia and salmon are uniquely priced, less volatile and more persistent with a price dynamic more akin to local terrestrial meats. Fishery prices show large month-by-month fluctuations and compete more with each other. Participants in the different levels of the value chain corroborate the uniqueness of salmon and state a preference for stable availability and low prices, with less concern about the specific sourcing of fish (aquaculture/fisher, or domestic/imported).","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"259 - 282"},"PeriodicalIF":3.9,"publicationDate":"2022-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48219856","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-22DOI: 10.1080/13657305.2022.2060374
K. Gosh, U. Deb, M. Dey
Abstract Accurately measuring willingness-to-pay (WTP) for newly developed food products is critical for academicians and marketing managers. This study measures consumers’ preference and WTP for five newly developed convenient (ready-to-cook) catfish products by surveying 128 participants from Arkansas and Florida. An ordered probit model was applied to survey data to investigate factors influencing consumers’ WTP. Results indicated that the surveyed participants preferred all the inspected products as their WTP was ranged between average and high. The significant variables affecting the participants’ WTP include product appearance, eagerness to buy, preference ranking, preferred form, and consumption pattern. The consumer’s WTP was significantly correlated with the participant’s gender, age, race, and for some groups, income.
{"title":"Consumers’ willingness-to-pay for newly developed U.S. farm-raised convenient catfish products: A consumer-based survey study","authors":"K. Gosh, U. Deb, M. Dey","doi":"10.1080/13657305.2022.2060374","DOIUrl":"https://doi.org/10.1080/13657305.2022.2060374","url":null,"abstract":"Abstract Accurately measuring willingness-to-pay (WTP) for newly developed food products is critical for academicians and marketing managers. This study measures consumers’ preference and WTP for five newly developed convenient (ready-to-cook) catfish products by surveying 128 participants from Arkansas and Florida. An ordered probit model was applied to survey data to investigate factors influencing consumers’ WTP. Results indicated that the surveyed participants preferred all the inspected products as their WTP was ranged between average and high. The significant variables affecting the participants’ WTP include product appearance, eagerness to buy, preference ranking, preferred form, and consumption pattern. The consumer’s WTP was significantly correlated with the participant’s gender, age, race, and for some groups, income.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"332 - 358"},"PeriodicalIF":3.9,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43526812","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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