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The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod

Hammarlund, Cecilia LU (2015) In Marine Resource Economics 30(2). p.157-177
Abstract
The price of fish depends on quality attributes such as size and freshness. In turn, quality attributes are related to fishery management. This article presents a hedonic analysis where attribute prices of size and quality ratings are estimated for the Swedish Baltic cod fishery. Using information from 5,307 landing days, hedonic inverse demand functions are estimated with a random coefficient (RC) model. Results show that there are price premiums for larger sizes of cod and for cod with the highest quality rating. Results also show that own-quantity and cross-quantity effects are small and negative for most attributes. Thus, there is an indication that the management of a fish stock that changes the quantity of attributes will also change... (More)
The price of fish depends on quality attributes such as size and freshness. In turn, quality attributes are related to fishery management. This article presents a hedonic analysis where attribute prices of size and quality ratings are estimated for the Swedish Baltic cod fishery. Using information from 5,307 landing days, hedonic inverse demand functions are estimated with a random coefficient (RC) model. Results show that there are price premiums for larger sizes of cod and for cod with the highest quality rating. Results also show that own-quantity and cross-quantity effects are small and negative for most attributes. Thus, there is an indication that the management of a fish stock that changes the quantity of attributes will also change the prices of attributes, although the price effect is small in the case of Swedish Baltic cod. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Attribute prices, Baltic cod fishery, hedonic inverse demand
in
Marine Resource Economics
volume
30
issue
2
pages
157 - 177
publisher
MRE Foundation, Inc.
external identifiers
  • wos:000351116400003
  • scopus:84929400488
ISSN
0738-1360
DOI
10.1086/679972
language
English
LU publication?
yes
id
81ef9d88-9054-4672-9790-c8fee232ac18 (old id 5293945)
date added to LUP
2015-04-24 16:13:25
date last changed
2017-07-30 04:23:28
@article{81ef9d88-9054-4672-9790-c8fee232ac18,
  abstract     = {The price of fish depends on quality attributes such as size and freshness. In turn, quality attributes are related to fishery management. This article presents a hedonic analysis where attribute prices of size and quality ratings are estimated for the Swedish Baltic cod fishery. Using information from 5,307 landing days, hedonic inverse demand functions are estimated with a random coefficient (RC) model. Results show that there are price premiums for larger sizes of cod and for cod with the highest quality rating. Results also show that own-quantity and cross-quantity effects are small and negative for most attributes. Thus, there is an indication that the management of a fish stock that changes the quantity of attributes will also change the prices of attributes, although the price effect is small in the case of Swedish Baltic cod.},
  author       = {Hammarlund, Cecilia},
  issn         = {0738-1360},
  keyword      = {Attribute prices,Baltic cod fishery,hedonic inverse demand},
  language     = {eng},
  number       = {2},
  pages        = {157--177},
  publisher    = {MRE Foundation, Inc.},
  series       = {Marine Resource Economics},
  title        = {The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod},
  url          = {http://dx.doi.org/10.1086/679972},
  volume       = {30},
  year         = {2015},
}