Estimating Elasticity of Demand for Pacific Bluefin Tuna in Tsukiji Fish Market

Kanae Tokunaga ()

Marine Resource Economics, 2018, vol. 33, issue 1, 27 - 60

Abstract: This study estimates the price elasticity of demand for Pacific bluefin tuna in Tsukiji Market by using an instrumental variables approach. Variability in catch by purse seine vessels and fluctuations in the auctioned volume at Tsukiji Market are used as supply shocks. This study finds an elastic demand for Pacific bluefin tuna with an estimated constant own-price elasticity of demand of −2.631. There is a growing concern for the health of the Pacific bluefin tuna stock, and management measures are being discussed. This estimation of own-price elasticity of demand for Pacific bluefin tuna can contribute to future policy evaluations. Under elastic demand, a price increase is met with more than a proportionate decrease in the quantity demanded. This may pose as a challenge to the Pacific bluefin tuna fisheries.

Date: 2018
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