Competition in a fish auction: The case of Atlantic cod in Northern Norway
This study investigates the role of bidder numbers in fish auctions, a neglected area of past research and one that is of key importance for optimal use of limited marine resources. The study of a Norwegian auction for Atlantic cod shows that prices increase when two or more bidders participate in t...
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ftnofima:oai:nofima.brage.unit.no:11250/2711865 2023-05-15T15:27:12+02:00 Competition in a fish auction: The case of Atlantic cod in Northern Norway Sogn-Grundvåg, Geir Zhang, Dengjun Dreyer, Bent 2021 application/pdf https://hdl.handle.net/11250/2711865 https://doi.org/10.1016/j.fishres.2020.105826 eng eng Norges forskningsråd: 203477 Nofima AS: 21161 urn:issn:0165-7836 https://hdl.handle.net/11250/2711865 https://doi.org/10.1016/j.fishres.2020.105826 cristin:1854625 235 Fisheries Research Peer reviewed Journal article 2021 ftnofima https://doi.org/10.1016/j.fishres.2020.105826 2022-11-18T06:51:12Z This study investigates the role of bidder numbers in fish auctions, a neglected area of past research and one that is of key importance for optimal use of limited marine resources. The study of a Norwegian auction for Atlantic cod shows that prices increase when two or more bidders participate in the auction. Holding other variables such as lot size, quality grade, and seasonality constant, price increases of 4.51 %, 6.47 %, 7.18 %, and 9.88 % in auctions with two, three, four, and five plus bidders were found, compared to auctions with only one bidder. The increasing prices following from higher bidder numbers also indicate that fishers should be incentivized to provide high-quality fish at the right time of importance for optimal resource use. Increased competition also means that, over time, winning bids will be placed by the buyers that are the most capable of adding value and earning profits, which also contributes to optimal resource use. Findings also show to what extent factors such as lot size, quality grade, fishing method (bottom trawl, longline, Danish seine), and seasonality influence the probability of two or more participating bidders in auctions, which should be highly relevant information for fishers and policy makers. publishedVersion Article in Journal/Newspaper atlantic cod Northern Norway Nofima Knowledge Archive (Brage) Norway Fisheries Research 235 105826 |
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English |
description |
This study investigates the role of bidder numbers in fish auctions, a neglected area of past research and one that is of key importance for optimal use of limited marine resources. The study of a Norwegian auction for Atlantic cod shows that prices increase when two or more bidders participate in the auction. Holding other variables such as lot size, quality grade, and seasonality constant, price increases of 4.51 %, 6.47 %, 7.18 %, and 9.88 % in auctions with two, three, four, and five plus bidders were found, compared to auctions with only one bidder. The increasing prices following from higher bidder numbers also indicate that fishers should be incentivized to provide high-quality fish at the right time of importance for optimal resource use. Increased competition also means that, over time, winning bids will be placed by the buyers that are the most capable of adding value and earning profits, which also contributes to optimal resource use. Findings also show to what extent factors such as lot size, quality grade, fishing method (bottom trawl, longline, Danish seine), and seasonality influence the probability of two or more participating bidders in auctions, which should be highly relevant information for fishers and policy makers. publishedVersion |
format |
Article in Journal/Newspaper |
author |
Sogn-Grundvåg, Geir Zhang, Dengjun Dreyer, Bent |
spellingShingle |
Sogn-Grundvåg, Geir Zhang, Dengjun Dreyer, Bent Competition in a fish auction: The case of Atlantic cod in Northern Norway |
author_facet |
Sogn-Grundvåg, Geir Zhang, Dengjun Dreyer, Bent |
author_sort |
Sogn-Grundvåg, Geir |
title |
Competition in a fish auction: The case of Atlantic cod in Northern Norway |
title_short |
Competition in a fish auction: The case of Atlantic cod in Northern Norway |
title_full |
Competition in a fish auction: The case of Atlantic cod in Northern Norway |
title_fullStr |
Competition in a fish auction: The case of Atlantic cod in Northern Norway |
title_full_unstemmed |
Competition in a fish auction: The case of Atlantic cod in Northern Norway |
title_sort |
competition in a fish auction: the case of atlantic cod in northern norway |
publishDate |
2021 |
url |
https://hdl.handle.net/11250/2711865 https://doi.org/10.1016/j.fishres.2020.105826 |
geographic |
Norway |
geographic_facet |
Norway |
genre |
atlantic cod Northern Norway |
genre_facet |
atlantic cod Northern Norway |
op_source |
235 Fisheries Research |
op_relation |
Norges forskningsråd: 203477 Nofima AS: 21161 urn:issn:0165-7836 https://hdl.handle.net/11250/2711865 https://doi.org/10.1016/j.fishres.2020.105826 cristin:1854625 |
op_doi |
https://doi.org/10.1016/j.fishres.2020.105826 |
container_title |
Fisheries Research |
container_volume |
235 |
container_start_page |
105826 |
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1766357642468392960 |