Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003)
In North Norway the dominant method of exchange for fresh and frozen fish at the ex-vessel level is by direct (contract) sale, whereby price is negotiated between fish processors and the fishermen. More recently, an auction for frozen fish has been introduced. In this paper we investigate the relati...
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ftagecon:oai:ageconsearch.umn.edu:28216 2023-05-15T17:39:20+02:00 Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) Helstad, Kjetil Vassdal, Terje Trondsen, Torbjorn Young, James A. 2005 18 application/pdf http://purl.umn.edu/28216 English en eng AgEcon Search Marine Resource Economics>Volume 20, Number 3, 2005 24884 http://purl.umn.edu/28216 Market linkages cointegration auction sale direct sale fresh fish frozen fish cod haddock North Norway Resource /Energy Economics and Policy Q22 C32 D44 Journal Article 2005 ftagecon 2012-09-12T16:24:39Z In North Norway the dominant method of exchange for fresh and frozen fish at the ex-vessel level is by direct (contract) sale, whereby price is negotiated between fish processors and the fishermen. More recently, an auction for frozen fish has been introduced. In this paper we investigate the relationship of prices between these methods of exchange and, in particular, whether the prices develop in a stable pattern between auction and direct sale by means of a cointegration analysis. Monthly prices of size-graded cod and haddock landed in the period 1997–2003 are analysed. For most months, frozen fish sold through auctions realised the highest price, followed by direct sales of fresh and frozen, respectively. Fish sold by auction exhibits a larger monthly variation in price than fish sold directly. Prices for cod were cointegrated to a larger degree than for haddock, and the cointegration was strongest for frozen cod. The analysis also demonstrates that the auction prices for frozen cod and haddock drive the direct sale prices of similar fish, both frozen and fresh, even though the quantity sold via direct sales is greater than that of auctions. Law of one price (LOP) and weak exogeneity were present for cod and haddock. Article in Journal/Newspaper North Norway AgEcon Search - Research in Agricultural & Applied Economics Norway |
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AgEcon Search - Research in Agricultural & Applied Economics |
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English |
topic |
Market linkages cointegration auction sale direct sale fresh fish frozen fish cod haddock North Norway Resource /Energy Economics and Policy Q22 C32 D44 |
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Market linkages cointegration auction sale direct sale fresh fish frozen fish cod haddock North Norway Resource /Energy Economics and Policy Q22 C32 D44 Helstad, Kjetil Vassdal, Terje Trondsen, Torbjorn Young, James A. Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) |
topic_facet |
Market linkages cointegration auction sale direct sale fresh fish frozen fish cod haddock North Norway Resource /Energy Economics and Policy Q22 C32 D44 |
description |
In North Norway the dominant method of exchange for fresh and frozen fish at the ex-vessel level is by direct (contract) sale, whereby price is negotiated between fish processors and the fishermen. More recently, an auction for frozen fish has been introduced. In this paper we investigate the relationship of prices between these methods of exchange and, in particular, whether the prices develop in a stable pattern between auction and direct sale by means of a cointegration analysis. Monthly prices of size-graded cod and haddock landed in the period 1997–2003 are analysed. For most months, frozen fish sold through auctions realised the highest price, followed by direct sales of fresh and frozen, respectively. Fish sold by auction exhibits a larger monthly variation in price than fish sold directly. Prices for cod were cointegrated to a larger degree than for haddock, and the cointegration was strongest for frozen cod. The analysis also demonstrates that the auction prices for frozen cod and haddock drive the direct sale prices of similar fish, both frozen and fresh, even though the quantity sold via direct sales is greater than that of auctions. Law of one price (LOP) and weak exogeneity were present for cod and haddock. |
format |
Article in Journal/Newspaper |
author |
Helstad, Kjetil Vassdal, Terje Trondsen, Torbjorn Young, James A. |
author_facet |
Helstad, Kjetil Vassdal, Terje Trondsen, Torbjorn Young, James A. |
author_sort |
Helstad, Kjetil |
title |
Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) |
title_short |
Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) |
title_full |
Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) |
title_fullStr |
Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) |
title_full_unstemmed |
Price Links between Auction and Direct Sales of Fresh and Frozen Fish in North Norway (1997–2003) |
title_sort |
price links between auction and direct sales of fresh and frozen fish in north norway (1997–2003) |
publisher |
AgEcon Search |
publishDate |
2005 |
url |
http://purl.umn.edu/28216 |
geographic |
Norway |
geographic_facet |
Norway |
genre |
North Norway |
genre_facet |
North Norway |
op_relation |
Marine Resource Economics>Volume 20, Number 3, 2005 24884 http://purl.umn.edu/28216 |
_version_ |
1766140095398674432 |