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The Economics Of Information: Markets For Seafood Attributes

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Author Info

  • Roheim, Cathy A.

Abstract

This paper presents the economic theory of information, reflected by differing demand for and supply of products in the presence or absence of certain attributes. This theory is applied to the market for seafood and reviews the use of this framework in the empirical literature. Product attributes can be search attributes (demand for the product found with the lowest price or contained in preferred packaging), experience attributes (demand for a product because of previous experience with the product's taste or ease of preparation), and credence attributes (preference for products with attributes which must be identified as present by a trusted source, such as safety or recyclability). It is highly likely that, given today's competitive market for seafood and consumers' interest in knowing more about the products they purchase, the market for seafood with desired attributes will continue to evolve.

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File URL: http://purl.umn.edu/28095
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Bibliographic Info

Article provided by Marine Resources Foundation in its journal Marine Resource Economics.

Volume (Year): 17 (2002)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:ags:mareec:28095

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Web page: http://www.uri.edu/cels/enre/mre/mre.htm

Related research

Keywords: Resource /Energy Economics and Policy;

References

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  1. Beggs, S. & Cardell, S. & Hausman, J., 1981. "Assessing the potential demand for electric cars," Journal of Econometrics, Elsevier, vol. 17(1), pages 1-19, September.
  2. Caswell, Julie A., 1998. "Valuing the benefits and costs of improved food safety and nutrition," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(4), December.
  3. Roheim, Cathy A. & Kline, Jeffrey D. & Anderson, Joan Gray, 1996. "Seafood Safety Perceptions And Their Effects On Anticipated Consumption Under Varying Information Treatments," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 25(1), April.
  4. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
  5. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-29, March-Apr.
  6. Teisl, Mario F. & Roe, Brian & Hicks, Robert L., 2002. "Can Eco-Labels Tune a Market? Evidence from Dolphin-Safe Labeling," Journal of Environmental Economics and Management, Elsevier, vol. 43(3), pages 339-359, May.
  7. Holland, Daniel S. & Roheim, Cathy A., 1998. "Predicting Consumer Preferences For Fresh Salmon: The Influence Of Safety Inspection And Production Method Attributes," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(1), April.
  8. Darby, Michael R & Karni, Edi, 1973. "Free Competition and the Optimal Amount of Fraud," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 67-88, April.
  9. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
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Cited by:
  1. Hansen, Havard & Onozaka, Yuko, 2011. "When Diseases Hit Aquaculture: An Experimental Study of Spillover Effects from Negative Publicity," Marine Resource Economics, Marine Resources Foundation, vol. 26(4).
  2. Thorpe, Andy & Bennett, Elizabeth, 2004. "Market-Driven International Fish Supply Chains: The Case of Nile Perch from Africa's Lake Victoria," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 7(04).

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