Modelling WTP for sustainably farmed fish: A contingent valuation study in Ireland and Norway

Stephen Hynes, E. Ravagnan and B. Gjerstad

No 309604, Working Papers from National University of Ireland, Galway, Socio-Economic Marine Research Unit

Abstract: In this paper Norwegian and Irish consumers’ willingness to pay for salmon that is produced under more sustainable aquaculture practices is examined using the contingent valuation method. A bivariate probit model is estimated where the consideration of environmentally friendly fish farming at time of purchase is jointly estimated with willingness to pay. The predicted joint probabilities of the bivariate probit model are calculated in order to examine if concerns for the environmental credentials of salmon aquaculture translate into willingness to pay a price premium for sustainably farmed fish. The results suggest that environmental concerns and attitudes are not the sole motivating factors influencing consumption behaviours

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 30
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:semrui:309604

DOI: 10.22004/ag.econ.309604

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