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Modelling WTP for sustainably farmed fish: A contingent valuation study in Ireland and Norway

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  • Hynes, S.
  • Ravagnan, E.
  • Gjerstad, B.

Abstract

In this paper Norwegian and Irish consumers’ willingness to pay for salmon that is produced under more sustainable aquaculture practices is examined using the contingent valuation method. A bivariate probit model is estimated where the consideration of environmentally friendly fish farming at time of purchase is jointly estimated with willingness to pay. The predicted joint probabilities of the bivariate probit model are calculated in order to examine if concerns for the environmental credentials of salmon aquaculture translate into willingness to pay a price premium for sustainably farmed fish. The results suggest that environmental concerns and attitudes are not the sole motivating factors influencing consumption behaviours

Suggested Citation

  • Hynes, S. & Ravagnan, E. & Gjerstad, B., 2018. "Modelling WTP for sustainably farmed fish: A contingent valuation study in Ireland and Norway," Working Papers 309604, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    • Handle: RePEc:ags:semrui:309604
    DOI: 10.22004/ag.econ.309604
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    References listed on IDEAS

    as
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    3. Winnie Yip & Duncan Knowler & Wolfgang Haider & Ryan Trenholm, 2017. "Valuing the Willingness-to-Pay for Sustainable Seafood: Integrated Multitrophic versus Closed Containment Aquaculture," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 65(1), pages 93-117, March.
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