Using Stated Preference Valuation to Support Sustainable Marine Fishery Management
This study uses a random parameters logit (RPL) model to estimate the Taiwanese preference for northern shrimp (NS) products (NSP) with the Marine Stewardship Council (MSC) label. The estimated results show that, ceteris paribus, the marginal willingness to pay (MWTP) of Taiwanese consumers for NSP...
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ftrepec:oai:RePEc:gam:jsusta:v:13:y:2021:i:9:p:4838-:d:543430 2024-04-14T08:16:38+00:00 Using Stated Preference Valuation to Support Sustainable Marine Fishery Management Tzu-Ming Liu I-Jean Chen Ho-Ching Jenny Yuan https://www.mdpi.com/2071-1050/13/9/4838/pdf https://www.mdpi.com/2071-1050/13/9/4838/ unknown https://www.mdpi.com/2071-1050/13/9/4838/pdf https://www.mdpi.com/2071-1050/13/9/4838/ article ftrepec 2024-03-19T10:40:20Z This study uses a random parameters logit (RPL) model to estimate the Taiwanese preference for northern shrimp (NS) products (NSP) with the Marine Stewardship Council (MSC) label. The estimated results show that, ceteris paribus, the marginal willingness to pay (MWTP) of Taiwanese consumers for NSP with the MSC label is up to New Taiwan dollar (NTD) 84.86 in comparison to products without the label. Moreover, the price of MSC-labeled NSP has a positive effect on the quantity demanded by Taiwanese consumers. They also prefer products in smaller packages and with shorter certification periods. The positive effect can be explained by the Veblen effect or the fact that sometimes prices are perceived as signals of product quality. However, the effects of preference for smaller packages and shorter certification periods are minimal compared with the effects of preference for MSC-labeled products. When consumers are unfamiliar with products or labels, a high price is a viable marketing strategy. However, the advantage cannot sustain the promotion of products and labels. discrete choice experiments; prices as signals of product quality; MSC-certified fishery; ecolabel; Veblen effect Article in Journal/Newspaper northern shrimp RePEc (Research Papers in Economics) |
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Open Polar |
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RePEc (Research Papers in Economics) |
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description |
This study uses a random parameters logit (RPL) model to estimate the Taiwanese preference for northern shrimp (NS) products (NSP) with the Marine Stewardship Council (MSC) label. The estimated results show that, ceteris paribus, the marginal willingness to pay (MWTP) of Taiwanese consumers for NSP with the MSC label is up to New Taiwan dollar (NTD) 84.86 in comparison to products without the label. Moreover, the price of MSC-labeled NSP has a positive effect on the quantity demanded by Taiwanese consumers. They also prefer products in smaller packages and with shorter certification periods. The positive effect can be explained by the Veblen effect or the fact that sometimes prices are perceived as signals of product quality. However, the effects of preference for smaller packages and shorter certification periods are minimal compared with the effects of preference for MSC-labeled products. When consumers are unfamiliar with products or labels, a high price is a viable marketing strategy. However, the advantage cannot sustain the promotion of products and labels. discrete choice experiments; prices as signals of product quality; MSC-certified fishery; ecolabel; Veblen effect |
format |
Article in Journal/Newspaper |
author |
Tzu-Ming Liu I-Jean Chen Ho-Ching Jenny Yuan |
spellingShingle |
Tzu-Ming Liu I-Jean Chen Ho-Ching Jenny Yuan Using Stated Preference Valuation to Support Sustainable Marine Fishery Management |
author_facet |
Tzu-Ming Liu I-Jean Chen Ho-Ching Jenny Yuan |
author_sort |
Tzu-Ming Liu |
title |
Using Stated Preference Valuation to Support Sustainable Marine Fishery Management |
title_short |
Using Stated Preference Valuation to Support Sustainable Marine Fishery Management |
title_full |
Using Stated Preference Valuation to Support Sustainable Marine Fishery Management |
title_fullStr |
Using Stated Preference Valuation to Support Sustainable Marine Fishery Management |
title_full_unstemmed |
Using Stated Preference Valuation to Support Sustainable Marine Fishery Management |
title_sort |
using stated preference valuation to support sustainable marine fishery management |
url |
https://www.mdpi.com/2071-1050/13/9/4838/pdf https://www.mdpi.com/2071-1050/13/9/4838/ |
genre |
northern shrimp |
genre_facet |
northern shrimp |
op_relation |
https://www.mdpi.com/2071-1050/13/9/4838/pdf https://www.mdpi.com/2071-1050/13/9/4838/ |
_version_ |
1796315351429939200 |