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Using Stated Preference Valuation to Support Sustainable Marine Fishery Management

Author

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  • Tzu-Ming Liu

    (Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan)

  • I-Jean Chen

    (Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan)

  • Ho-Ching Jenny Yuan

    (Graduate Institute of Marine Affairs, National Sun Yat-sen University, Kaohsiung 80424, Taiwan)

Abstract

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.

Suggested Citation

  • Tzu-Ming Liu & I-Jean Chen & Ho-Ching Jenny Yuan, 2021. "Using Stated Preference Valuation to Support Sustainable Marine Fishery Management," Sustainability, MDPI, vol. 13(9), pages 1-12, April.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:9:p:4838-:d:543430
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    2. Vilma Xhakollari & Sina Ahmadi Kaliji & Marija Cerjak & Damir Kovačić & Luca Mulazzani & Luca Camanzi, 2023. "Consumer Preferences and Willingness to Pay for Clams with Sustainability Certification in Mediterranean Countries," Sustainability, MDPI, vol. 15(15), pages 1-18, August.

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