Willingness to Pay for Shrimp with Homegrown by Heroes, Community-Supported Fishery, Best Aquaculture Practices, or Local Attributes

Graham Soley, Wuyang Hu and Michael Vassalos

Journal of Agricultural and Applied Economics, 2019, vol. 51, issue 4, 606-621

Abstract: With the seafood food market endowed with various attributes, consumers may prefer certain certifications over others. By surveying a diverse sample of respondents, this study examines consumer preference for farm-raised shrimp in Kentucky and South Carolina. Respondents’ assessment of certain seafood labels is evaluated using a stated preference survey. Willingness-to-pay (WTP) estimates and various product profiles are generated. Consistent with previous studies, a strong preference for fresh and “local” was found. Furthermore, Homegrown by Heroes was highly valued among participants, as well as Best Aquaculture Practices. Based on WTP estimates for these attributes, marketing and policy recommendations are discussed.

Date: 2019
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