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Retail Fish Demand in Great Britain and its Fisheries Management Implications

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  • Fousekis, Panos
  • Revell, Brian J.
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    Abstract

    Over the past 20 years, the demand for fish in the UK has changed markedly. The species prevalent in the consumption mix has altered to reflect the greater availability of farmed species and the decline in some marine-caught species. This paper examines the retail demand for fish in the UK and the implications this has for fisheries policy. A two-stage demand model using a dynamic Almost Ideal Demand System (AIDS) is estimated from retail panel data for fish and fish products in Great Britain.1 Both conditional and unconditional expenditure, own- and cross-price elasticities of demand are derived from the parameter estimates. Haddock, salmon, flatfish, shellfish, and smoked fish are expenditure elastic, implying that income growth will strongly increase demand for these species. Most species are own-price inelastic, suggesting that policy driven catch restrictions can increase expenditure on fish and may reduce the short-run incentives of commercial fishermen to comply.

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    File URL: http://purl.umn.edu/28155
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    Bibliographic Info

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

    Volume (Year): 19 (2004)
    Issue (Month): 4 ()
    Pages:

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    Handle: RePEc:ags:mareec:28155

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

    Related research

    Keywords: fish demand; UK; unconditional elasticities; Resource /Energy Economics and Policy; D12; Q21; Q22; C51;

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    References

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    1. Stathis Klonaris & David Hallam, 2003. "Conditional and unconditional food demand elasticities in a dynamic multistage demand system," Applied Economics, Taylor and Francis Journals, vol. 35(5), pages 503-514.
    2. Justo Manrique & Helen H. Jensen, 2001. "Spanish Household Demand for Seafood," Journal of Agricultural Economics, Wiley Blackwell, vol. 52(3), pages 23-37.
    3. Alain Carpentier & Hervé Guyomard, 2001. "Unconditional Elasticities in Two-Stage Demand Systems: An Approximate Solution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 222-229.
    4. Burton, Michael P., 1992. "The Demand For Wet Fish in Great Britain," Marine Resource Economics, Marine Resources Foundation, vol. 7(2).
    5. Bewley, R. A., 1983. "Tests of restrictions in large demand systems," European Economic Review, Elsevier, vol. 20(1-3), pages 257-269, January.
    6. P. Y. Chen & M. M. Veeman, 1991. "An Almost Ideal Demand System Analysis for Meats with Habit Formation and Structural Change," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 39(2), pages 223-235, 07.
    7. Burton, Michael & Young, Trevor, 1992. "The Structure of Changing Tastes for Meat and Fish in Great Britain," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 19(2), pages 165-80.
    8. Shabbar Jaffry & Sean Pascoe & Catherine Robinson, 1999. "Long run price flexibilities for high valued UK fish species: a cointegration systems approach," Applied Economics, Taylor and Francis Journals, vol. 31(4), pages 473-481.
    9. Loannides, Chris & Whitmarsh, David, 1987. "Price formation in fisheries," Marine Policy, Elsevier, vol. 11(2), pages 143-145, April.
    10. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
    11. Rickertsen, Kyrre, 1998. "The demand for food and beverages in Norway," Agricultural Economics, Blackwell, vol. 18(1), pages 89-100, January.
    12. Anderson, Gordon & Blundell, Richard, 1983. "Testing Restrictions in a Flexible Dynamic Demand System: An Application to Consumers' Expenditure in Canada," Review of Economic Studies, Wiley Blackwell, vol. 50(3), pages 397-410, July.
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    Cited by:
    1. Quaas, Martin F. & Requate, Till, 2012. "Sushi or fish fingers? Seafood diversity, collapsing fish stocks, and multi-species fishery management," Economics Working Papers 2012-03, Christian-Albrechts-University of Kiel, Department of Economics.

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