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Estimating Elasticity of Demand for Pacific Bluefin Tuna in Tsukiji Fish Market

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  • Kanae Tokunaga

Abstract

This study estimates the price elasticity of demand for Pacific bluefin tuna in Tsukiji Market by using an instrumental variables approach. Variability in catch by purse seine vessels and fluctuations in the auctioned volume at Tsukiji Market are used as supply shocks. This study finds an elastic demand for Pacific bluefin tuna with an estimated constant own-price elasticity of demand of −2.631. There is a growing concern for the health of the Pacific bluefin tuna stock, and management measures are being discussed. This estimation of own-price elasticity of demand for Pacific bluefin tuna can contribute to future policy evaluations. Under elastic demand, a price increase is met with more than a proportionate decrease in the quantity demanded. This may pose as a challenge to the Pacific bluefin tuna fisheries.

Suggested Citation

  • Kanae Tokunaga, 2018. "Estimating Elasticity of Demand for Pacific Bluefin Tuna in Tsukiji Fish Market," Marine Resource Economics, University of Chicago Press, vol. 33(1), pages 27-60.
    • Handle: RePEc:ucp:mresec:doi:10.1086/694898
    DOI: 10.1086/694898
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    Cited by:

    1. Chin-Hwa Sun & Fu-Sung Chiang & Dale Squires & Anthony Rogers & Man-Ser Jan, 2019. "More landings for higher profit? Inverse demand analysis of the bluefin tuna auction price in Japan and economic incentives in global bluefin tuna fisheries management," PLOS ONE, Public Library of Science, vol. 14(8), pages 1-27, August.

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