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Pricing U.S. North Atlantic bluefin tuna and implications for management

Listed author(s):
  • Michael T. Carroll

    (Stop and Shop Supermarket Co., P.O. Box 1942, Boston, MA 02105)

  • James L. Anderson

    (Department of Environmental and Natural Resource Economics, University of Rhode Island, Kingston, RI 02881-0814)

  • Josué Martínez-Garmendia

    (J.L. Anderson Associates, Inc., P.O. Box 564, Narragansett, RI 02882)

Bluefin tuna is regarded as a high-quality product in the Japanese market and is characterized by an unusual marketing system by seafood industry standards. Each fish is individually inspected for various quality attributes before being flown to Japan for the fresh tuna market. The first objective of this study is to formally evaluate the degree to which the price of U.S. fresh bluefin tuna is determined by quality attributes of each fish, rather than by just the quantity supplied. This is accomplished using a Hedonic model. The results support the hypothesis that the fresh bluefin tuna price is, in fact, significantly influenced by the quality attributes of the fish, including the freshness, fat content, color, and shape. Interesting implications for public management of this highly valued resource arise from the results. [Econ-Lit citation: L150, L190, L660] © 2001 John Wiley & Sons, Inc.

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Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 17 (2001)
Issue (Month): 2 ()
Pages: 243-254

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Handle: RePEc:wly:agribz:v:17:y:2001:i:2:p:243-254
DOI: 10.1002/agr.1014
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  1. Biing-Hwan Lin & Hiroshi Mori, 1991. "Implicit values of Beef carcass characteristics in Japan: Implications for the US Beef export industry," Agribusiness, John Wiley & Sons, Ltd., vol. 7(2), pages 101-114.
  2. Bierlen, Ralph & Grunewald, Orlen, 1995. "Price Incentives for Commercial Fresh Tomatoes," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 27(01), pages 138-148, July.
  3. Bierlen, Ralph W. & Grunewald, Orlen C., 1995. "Price Incentives For Commercial Fresh Tomatoes," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
  4. Edward Shinnick, 1997. "Measuring Irish housing quality," Journal of Economic Studies, Emerald Group Publishing, vol. 24(1/2), pages 95-119, January.
  5. Hoesli, Martin & Giaccotto, Carmelo & Favarger, Philippe, 1997. "Three New Real Estate Price Indices for Geneva, Switzerland," The Journal of Real Estate Finance and Economics, Springer, vol. 15(1), pages 93-109, July.
  6. Steven Buccola & Yoko Iizuka, 1997. "Hedonic Cost Models and the Pricing of Milk Components," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 452-462.
  7. Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-675, November.
  8. Chang, Hui-Shung, 1995. "Examining hard coking coal price differentials A hedonic pricing approach," Resources Policy, Elsevier, vol. 21(4), pages 275-282, December.
  9. Chikako Kajikawa, 1998. "Quality level and price in Japanese apple market," Agribusiness, John Wiley & Sons, Ltd., vol. 14(3), pages 227-234.
  10. Gilbert Sylvia & Sherry L. Larkin, 1995. "Firm-level Intermediate Demand for Pacific Whiting Products: A Multi-attribute, Multi-sector Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 43(3), pages 501-518, November.
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