Using Stated Preference Valuation to Support Sustainable Marine Fishery Management

Tzu-Ming Liu, I-Jean Chen and Ho-Ching Jenny Yuan
Additional contact information
Tzu-Ming Liu: Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan
I-Jean Chen: Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan
Ho-Ching Jenny Yuan: Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan

Sustainability, 2021, vol. 13, issue 9, 1-12

Abstract: This study uses a random parameters logit (RPL) model to estimate the Taiwanese preference for northern shrimp (NS) products (NSP) with the Marine Stewardship Council (MSC) label. The estimated results show that, ceteris paribus, the marginal willingness to pay (MWTP) of Taiwanese consumers for NSP with the MSC label is up to New Taiwan dollar (NTD) 84.86 in comparison to products without the label. Moreover, the price of MSC-labeled NSP has a positive effect on the quantity demanded by Taiwanese consumers. They also prefer products in smaller packages and with shorter certification periods. The positive effect can be explained by the Veblen effect or the fact that sometimes prices are perceived as signals of product quality. However, the effects of preference for smaller packages and shorter certification periods are minimal compared with the effects of preference for MSC-labeled products. When consumers are unfamiliar with products or labels, a high price is a viable marketing strategy. However, the advantage cannot sustain the promotion of products and labels.

Keywords: discrete choice experiments; prices as signals of product quality; MSC-certified fishery; ecolabel; Veblen effect (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/9/4838/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/9/4838/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:9:p:4838-:d:543430

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().