Factors Influencing the Willingness to Pay for Aquaponic Products in a Developed Food Market: A Structural Equation Modeling Approach

Theresa Eichhorn and Oliver Meixner
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Theresa Eichhorn: Institute of Agricultural and Forestry Economics (AFO), Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, 1180 Vienna, Austria
Oliver Meixner: Institute of Marketing and Innovation, Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, 1180 Vienna, Austria

Sustainability, 2020, vol. 12, issue 8, 1-19

Abstract: Even in highly developed food markets, aquaponic products have not yet been successfully introduced. This is particularly surprising, as aquaponics is an excellent example of a sustainable circulation food production system. The purpose of this empirical study was to determine the factors that influence consumers’ willingness to pay for aquaponic products. The direct and indirect relationships were tested via Structural Equation Modeling (SEM). Primary data of 315 respondents from Austria were collected. The findings revealed that the willingness to pay for aquaponic products was significantly and directly driven by the purchase intention. As a result, the successful implementation of aquaponics in the market requires the provision of information for consumers. We suggest emphasizing the value of aquaponics as a sustainable food production system, since indirect factors that influence the willingness to pay are (besides the assessment of aquaponics) environmental awareness and green consumption.

Keywords: aquaponics; Structural Equation Modeling; consumer behavior; purchase intention; willingness to pay; sustainability; food market (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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