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The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod

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  • Cecilia Hammarlund

Abstract

The price of fish depends on quality attributes such as size and freshness. In turn, quality attributes are related to fishery management. This article presents a hedonic analysis where attribute prices of size and quality ratings are estimated for the Swedish Baltic cod fishery. Using information from 5,307 landing days, hedonic inverse demand functions are estimated with a random coefficient (RC) model. Results show that there are price premiums for larger sizes of cod and for cod with the highest quality rating. Results also show that own-quantity and cross-quantity effects are small and negative for most attributes. Thus, there is an indication that the management of a fish stock that changes the quantity of attributes will also change the prices of attributes, although the price effect is small in the case of Swedish Baltic cod.

Suggested Citation

  • Cecilia Hammarlund, 2015. "The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 157-177.
  • Handle: RePEc:ucp:mresec:doi:10.1086/679972
    DOI: 10.1086/679972
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    References listed on IDEAS

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    2. Kyrre Rickertsen & Frode Alfnes & Pierre Combris & Géraldine Enderli & Sylvie Issanchou & Jason F. Shogren, 2017. "French Consumers' Attitudes and Preferences toward Wild and Farmed Fish," Marine Resource Economics, University of Chicago Press, vol. 32(1), pages 59-81.
    3. repec:eee:soceco:v:75:y:2018:i:c:p:1-11 is not listed on IDEAS
    4. repec:ucp:mresec:doi:10.1086/692091 is not listed on IDEAS
    5. repec:eee:jocoma:v:12:y:2018:i:c:p:71-79 is not listed on IDEAS
    6. 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.

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