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Pricing on the Fish Market--Does Size Matter?

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  • Eric Sjöberg

Abstract

The importance of fish size for price per kilo is studied using an inverse demand approach. Price per kilo in different size categories of the same species differs significantly. This means that the average price for a species may change due to e.g., high grading or a changing climate, which both have the potential to change the size composition of the catch. Estimates show that quantity flexibilities differ substantially across size and species, while scale flexibilities, in general, are close to homothetic. Holding total catch constant, an approximate 1% decrease in the largest size category and a corresponding increase in the smallest size category is estimated to reduce the value of an average week's catch by roughly 0.1-0.4%. The results imply that the effect of size on price is an important consideration when formulating regulations or policies to curb, for example, high grading.

Suggested Citation

  • Eric Sjöberg, 2015. "Pricing on the Fish Market--Does Size Matter?," Marine Resource Economics, University of Chicago Press, vol. 30(3), pages 277-296.
  • Handle: RePEc:ucp:mresec:doi:10.1086/680445
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    References listed on IDEAS

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    1. James P. Houck, 1965. "The Relationship of Direct Price Flexibilities to Direct Price Elasticities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 789-792.
    2. Panos Fousekis & Giannis Karagiannis, 2001. "Wholesale level demand for fish grades in Greece," Applied Economics Letters, Taylor & Francis Journals, vol. 8(7), pages 479-482.
    3. Kjell G. Salvanes & Frode Steen, 1994. "Testing for Relative Performance between Seasons in a Fishery," Land Economics, University of Wisconsin Press, vol. 70(4), pages 431-447.
    4. Michael T. Carroll & James L. Anderson & Josué Martínez-Garmendia, 2001. "Pricing U.S. North Atlantic bluefin tuna and implications for management," Agribusiness, John Wiley & Sons, Ltd., vol. 17(2), pages 243-254.
    5. Dadi Kristofersson & Kyrre Rickertsen, 2004. "Efficient Estimation of Hedonic Inverse Input Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 1127-1137.
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