IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i9p4838-d543430.html
   My bibliography  Save this article

Using Stated Preference Valuation to Support Sustainable Marine Fishery Management

Author

Listed:
  • Tzu-Ming Liu

    (Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan)

  • I-Jean Chen

    (Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan)

  • Ho-Ching Jenny Yuan

    (Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan)

Abstract

This study uses a random parameters logit (RPL) model to estimate the Taiwanese preference for northern shrimp (NS) products (NSP) with the Marine Stewardship Council (MSC) label. The estimated results show that, ceteris paribus, the marginal willingness to pay (MWTP) of Taiwanese consumers for NSP with the MSC label is up to New Taiwan dollar (NTD) 84.86 in comparison to products without the label. Moreover, the price of MSC-labeled NSP has a positive effect on the quantity demanded by Taiwanese consumers. They also prefer products in smaller packages and with shorter certification periods. The positive effect can be explained by the Veblen effect or the fact that sometimes prices are perceived as signals of product quality. However, the effects of preference for smaller packages and shorter certification periods are minimal compared with the effects of preference for MSC-labeled products. When consumers are unfamiliar with products or labels, a high price is a viable marketing strategy. However, the advantage cannot sustain the promotion of products and labels.

Suggested Citation

  • Tzu-Ming Liu & I-Jean Chen & Ho-Ching Jenny Yuan, 2021. "Using Stated Preference Valuation to Support Sustainable Marine Fishery Management," Sustainability, MDPI, vol. 13(9), pages 1-12, April.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:9:p:4838-:d:543430
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/9/4838/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/9/4838/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Baltzer, Kenneth, 2012. "Standards vs. labels with imperfect competition and asymmetric information," Economics Letters, Elsevier, vol. 114(1), pages 61-63.
    2. Ankamah-Yeboah, Isaac & Nielsen, Max & Nielsen, Rasmus, 2016. "Price premium of organic salmon in Danish retail sale," Ecological Economics, Elsevier, vol. 122(C), pages 54-60.
    3. Marette, Stephan & Crespi, John M & Schiavina, Allesandra, 1999. "The Role of Common Labelling in a Context of Asymmetric Information," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 26(2), pages 167-178, June.
    4. Dari-Mattiacci, Giuseppe & Onderstal, Sander & Parisi, Francesco, 2021. "Asymmetric solutions to asymmetric information problems," International Review of Law and Economics, Elsevier, vol. 66(C).
    5. Liu, Tzu-Ming, 2017. "Testing on-site sampling correction in discrete choice experiments," Tourism Management, Elsevier, vol. 60(C), pages 439-441.
    6. Isaac Ankamah-Yeboah & Jette Bredahl Jacobsen & Søren Bøye Olsen & Max Nielsen & Rasmus Nielsen, 2019. "The Impact of Animal Welfare and Environmental Information on the Choice of Organic Fish: An Empirical Investigation of German Trout Consumers," Marine Resource Economics, University of Chicago Press, vol. 34(3), pages 247-266.
    7. Hoyos, David, 2010. "The state of the art of environmental valuation with discrete choice experiments," Ecological Economics, Elsevier, vol. 69(8), pages 1595-1603, June.
    8. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74(2), pages 132-132.
    9. Kenneth E. Train, 1998. "Recreation Demand Models with Taste Differences over People," Land Economics, University of Wisconsin Press, vol. 74(2), pages 230-239.
    10. Asher Wolinsky, 1983. "Prices as Signals of Product Quality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 50(4), pages 647-658.
    11. Tzu-Ming Liu & Chia-Mei Tien, 2019. "Assessing Tourists’ Preferences of Negative Externalities of Environmental Management Programs: A Case Study on Invasive Species in Shei-Pa National Park, Taiwan," Sustainability, MDPI, vol. 11(10), pages 1-11, May.
    12. Johan Blomquist & Valerio Bartolino & Staffan Waldo, 2015. "Price Premiums for Providing Eco‐labelled Seafood: Evidence from MSC‐certified Cod in Sweden," Journal of Agricultural Economics, Wiley Blackwell, vol. 66(3), pages 690-704, September.
    13. Domenico Carlucci & Biagia De Devitiis & Gianluca Nardone & Fabio Gaetano Santeramo, 2017. "Certification Labels Versus Convenience Formats: What Drives the Market in Aquaculture Products?," Marine Resource Economics, University of Chicago Press, vol. 32(3), pages 295-310.
    14. Cathy A. Roheim & Frank Asche & Julie Insignares Santos, 2011. "The Elusive Price Premium for Ecolabelled Products: Evidence from Seafood in the UK Market," Journal of Agricultural Economics, Wiley Blackwell, vol. 62(3), pages 655-668, September.
    15. Higgins, Kieran & Hutchinson, W. George & Longo, Alberto, 2020. "Willingness-to-Pay for Eco-Labelled Forest Products in Northern Ireland: An Experimental Auction Approach," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 87(C).
    16. Coelho, Philip R P & McClure, James E, 1993. "Toward an Economic Theory of Fashion," Economic Inquiry, Western Economic Association International, vol. 31(4), pages 595-608, October.
    17. Tzu-Ming Liu, 2019. "Using RPL Model to Probe Trade-Offs among Negative Externalities of Controlling Invasive Species," Sustainability, MDPI, vol. 11(21), pages 1-17, November.
    18. Goyert, Wendy & Sagarin, Raphael & Annala, John, 2010. "The promise and pitfalls of Marine Stewardship Council certification: Maine lobster as a case study," Marine Policy, Elsevier, vol. 34(5), pages 1103-1109, September.
    19. Bronnmann, Julia & Asche, Frank, 2017. "Sustainable Seafood From Aquaculture and Wild Fisheries: Insights From a Discrete Choice Experiment in Germany," Ecological Economics, Elsevier, vol. 142(C), pages 113-119.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yuting Sun & Chaoyun Liang, 2022. "Urban–Rural Comparison of the Association between Unsupportive Relationships, Perceived Stress, Authentic Self-Presentation, and Loneliness among Young Adults in Taiwan," IJERPH, MDPI, vol. 19(14), pages 1-16, July.
    2. Vilma Xhakollari & Sina Ahmadi Kaliji & Marija Cerjak & Damir Kovačić & Luca Mulazzani & Luca Camanzi, 2023. "Consumer Preferences and Willingness to Pay for Clams with Sustainability Certification in Mediterranean Countries," Sustainability, MDPI, vol. 15(15), pages 1-18, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Asche, Frank & Bronnmann, Julia & Cojocaru, Andreea L., 2021. "The value of responsibly farmed fish: A hedonic price study of ASC-certified whitefish," Ecological Economics, Elsevier, vol. 188(C).
    2. Sigurdsson, Valdimar & Larsen, Nils Magne & Pálsdóttir, Rakel Gyða & Folwarczny, Michal & Menon, R.G. Vishnu & Fagerstrøm, Asle, 2022. "Increasing the effectiveness of ecological food signaling: Comparing sustainability tags with eco-labels," Journal of Business Research, Elsevier, vol. 139(C), pages 1099-1110.
    3. Davide Menozzi & Thong Tien Nguyen & Giovanni Sogari & Dimitar Taskov & Sterenn Lucas & José Luis Santiago Castro-Rial & Cristina Mora, 2020. "Consumers’ Preferences and Willingness to Pay for Fish Products with Health and Environmental Labels: Evidence from Five European Countries," Post-Print hal-02935812, HAL.
    4. Ingrid van Putten & Catherine Longo & Ashleigh Arton & Matt Watson & Christopher M Anderson & Amber Himes-Cornell & Clara Obregón & Lucy Robinson & Tatiana van Steveninck, 2020. "Shifting focus: The impacts of sustainable seafood certification," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-24, May.
    5. Frank Asche & Julia Bronnmann, 2017. "Price premiums for ecolabelled seafood: MSC certification in Germany," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 61(4), pages 576-589, October.
    6. Chiadmi, Ines & Traoré, Sidnoma Abdoul Aziz & Salles, Jean-Michel, 2020. "Asian tiger mosquito far from home: Assessing the impact of invasive mosquitoes on the French Mediterranean littoral," Ecological Economics, Elsevier, vol. 178(C).
    7. Natali, F. & Cacchiarelli, L. & Branca, G., 2022. "There are plenty more (sustainable) fish in the sea: A discrete choice experiment on discarded species in Italy," Ecological Economics, Elsevier, vol. 196(C).
    8. Migena Proi & Emilia Cubero Dudinskaya & Simona Naspetti & Emel Ozturk & Raffaele Zanoli, 2023. "The Role of Eco-Labels in Making Environmentally Friendly Choices: An Eye-Tracking Study on Aquaculture Products with Italian Consumers," Sustainability, MDPI, vol. 15(5), pages 1-15, March.
    9. Domenico Carlucci & Biagia De Devitiis & Gianluca Nardone & Fabio Gaetano Santeramo, 2017. "Certification Labels Versus Convenience Formats: What Drives the Market in Aquaculture Products?," Marine Resource Economics, University of Chicago Press, vol. 32(3), pages 295-310.
    10. Frank Wijen & Mireille Chiroleu-Assouline, 2019. "Controversy Over Voluntary Environmental Standards: A Socioeconomic Analysis of the Marine Stewardship Council," PSE-Ecole d'économie de Paris (Postprint) halshs-02071504, HAL.
    11. Sigurdsson, Valdimar & Larsen, Nils Magne & Folwarczny, Michał & Fagerstrøm, Asle & Menon, R.G. Vishnu & Sigurdardottir, Freyja Thoroddsen, 2023. "The importance of relative customer-based label equity when signaling sustainability and health with certifications and tags," Journal of Business Research, Elsevier, vol. 154(C).
    12. Dengjun Zhang & Geir Sogn-Grundvåg & Frank Asche & James A. Young, 2018. "Eco-Labeling and Retailer Pricing Strategies: The U.K. Haddock Market," Sustainability, MDPI, vol. 10(5), pages 1-13, May.
    13. Bronnmann, Julia & Asche, Frank, 2017. "Sustainable Seafood From Aquaculture and Wild Fisheries: Insights From a Discrete Choice Experiment in Germany," Ecological Economics, Elsevier, vol. 142(C), pages 113-119.
    14. Julia Bronnmann & Frank Asche, 2016. "The Value of Product Attributes, Brands and Private Labels: An Analysis of Frozen Seafood in Germany," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(1), pages 231-244, February.
    15. Fang, Yingkai & Asche, Frank & Gao, Zhifeng, 2020. "Can ecolabel certifications for restaurants influence consumer choices away from home?," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304268, Agricultural and Applied Economics Association.
    16. Mulatu, Dawit W. & van der Veen, Anne & van Oel, Pieter R., 2014. "Farm households' preferences for collective and individual actions to improve water-related ecosystem services: The Lake Naivasha basin, Kenya," Ecosystem Services, Elsevier, vol. 7(C), pages 22-33.
    17. Ankamah-Yeboah, Isaac & Nielsen, Max & Nielsen, Rasmus, 2016. "Price premium of organic salmon in Danish retail sale," Ecological Economics, Elsevier, vol. 122(C), pages 54-60.
    18. Carlucci, Domenico & Dedevitiis, Biagia & Nardone, Gianluca & Santeramo, Fabio Gaetano, 2016. "Certification Labels Vs Convenience Formats: What drives the market in aquaculture products?," MPRA Paper 75448, University Library of Munich, Germany.
    19. Andersson, Anna & Hammarlund, Cecilia, 2023. "The effect of eco-certification on demand: The case of MSC-certified Norway lobster," Ecological Economics, Elsevier, vol. 204(PA).
    20. Tzu-Ming Liu, 2019. "Using RPL Model to Probe Trade-Offs among Negative Externalities of Controlling Invasive Species," Sustainability, MDPI, vol. 11(21), pages 1-17, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:9:p:4838-:d:543430. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.