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

Author

Listed:
  • 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)

Abstract

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.

Suggested Citation

  • 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.
    • Handle: RePEc:wly:agribz:v:17:y:2001:i:2:p:243-254
    DOI: 10.1002/agr.1014
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    References listed on IDEAS

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    Cited by:

    1. Ochieng', Otieno Geoffrey, 2010. "Effect of Value Addition on Price: A Hedonic Analysis of Peanut in Retail Supermarkets in Nairobi, Kenya," Research Theses 134495, Collaborative Masters Program in Agricultural and Applied Economics.
    2. Fong, Quentin S. W. & Anderson, James L., 2002. "International shark fin markets and shark management: an integrated market preference-cohort analysis of the blacktip shark (Carcharhinus limbatus)," Ecological Economics, Elsevier, vol. 40(1), pages 117-130, January.
    3. Hallstein, Eric & Villas-Boas, Sofia Berto, 2009. "Are Consumers Color Blind?: an empirical investigation of a traffic light advisory for sustainable seafood," CUDARE Working Papers 120535, University of California, Berkeley, Department of Agricultural and Resource Economics.
    4. Guillen, Jordi & Maynou, Francesc, 2014. "Importance of temporal and spatial factors in the ex-vessel price formation for red shrimp and management implications," Marine Policy, Elsevier, vol. 47(C), pages 66-70.
    5. James Hilger & Eric Hallstein & Andrew W. Stevens & Sofia B. Villas-Boas, 2019. "Measuring Willingness to Pay for Environmental Attributes in Seafood," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(1), pages 307-332, May.
    6. Wolff, François-Charles & Asche, Frank, 2022. "Pricing heterogeneity and transaction mode: Evidence from the French fish market," Journal of Economic Behavior & Organization, Elsevier, vol. 203(C), pages 67-79.
    7. Hallstein, Eric & Villas-Boas, Sofia B., 2013. "Can household consumers save the wild fish? Lessons from a sustainable seafood advisory," Journal of Environmental Economics and Management, Elsevier, vol. 66(1), pages 52-71.
    8. Sherry Larkin & Gil Sylvia, 2004. "Generating Enhanced Fishery Rents by Internalizing Product Quality Characteristics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 28(1), pages 101-122, May.
    9. Eric Sjöberg, 2015. "Pricing on the Fish Market--Does Size Matter?," Marine Resource Economics, University of Chicago Press, vol. 30(3), pages 277-296.
    10. Heffernan, Joseph Paul, 2014. "Dealing with Mediterranean bluefin tuna: A study in international environmental management," Marine Policy, Elsevier, vol. 50(PA), pages 81-88.
    11. Martínez-Garmendia, Josué, 2010. "Application of hedonic price modeling to consumer packaged goods using store scanner data," Journal of Business Research, Elsevier, vol. 63(7), pages 690-696, July.

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