High-Grading in a Quota-Regulated Fishery, with Empirical Evidence from the Icelandic Cod Fishery

Fishers in quota-regulated fisheries find it to their advantage to discard less valuable fish at sea to increase the value of their catch. A theoretical model describing the high-grading behavior of fishers is presented, and an empirical model is derived as well as a testing strategy to test for high-grading and to estimate the discarded amount of each grade. The model is applied to data for the Icelandic quota regulated cod fishery during the period September 1998 to June 2001. The results indicate that highgrading occurs in the Icelandic cod fishery for both long-line and net vessels. However, the discard rates are small, and the results clearly suggest that the ban on discards in Iceland has effectively dealt with high-grading. The estimated discard rates are consistent with existing estimates of high-grading for the same types of vessel in the same fishery. This suggests that the modeling of discarding decisions based purely on incentives is a useful alternative to classical biometric methods.ITQ's, highgrading, empirical estimation, Resource /Energy Economics and Policy, Q21, Q22, C12,

SC-X: CALIBRATING STATED CHOICE SURVEYS WITH EXPERIMENTAL AUCTION MARKETS

Experimental auctions (X) use real economic incentives but are limited by available products and locally recruited samples. Stated choice (SC) surveys can use a representative sample to estimate the willingness to pay (WTP) for hypothetical products with unavailable characteristics. However, a number of studies conclude that surveys give biased WTP estimates. We designed a method, SC-X, to calibrate the WTP estimates from stated choice surveys with WTP observed in experimental auctions. This method allows us to extend the results from auctions to products with unavailable characteristics and to socioeconomic groups not included in the auction. The SC-X method is illustrated using Norwegian consumers' preferences for country-of-origin and hormone status for beef.Institutional and Behavioral Economics, Marketing,

SC-X: CALIBRATING STATED CHOICE SURVEYS WITH EXPERIMENTAL AUCTION MARKETS

Experimental auctions (X) use real economic incentives but are limited by available products and locally recruited samples. Stated choice (SC) surveys can use a representative sample to estimate the willingness to pay (WTP) for hypothetical products with unavailable characteristics. However, a number of studies conclude that surveys give biased WTP estimates. We designed a method, SC-X, to calibrate the WTP estimates from stated choice surveys with WTP observed in experimental auctions. This method allows us to extend the results from auctions to products with unavailable characteristics and to socioeconomic groups not included in the auction. The SC-X method is illustrated using Norwegian consumers' preferences for country-of-origin and hormone status for beef.Agribusiness,

FOR WHOM REDUCED PRICES COUNT: A CENSORED QUANTILE REGRESSION ANALYSIS OF VEGETABLE DEMAND

Low consumption of vegetables is linked to many diseases. From a health perspective, the distribution of consumption is at least as important as mean consumption. We investigated the differential effects of policy changes on high- and low-consuming households by using 15,700 observations from 1986 to 1997. Many households did not purchase vegetables during the two-week survey periods and censored as well as ordinary quantile regressions were estimated. Removal of the value added tax for vegetables, income increases, and health information are unlikely to substantially increase purchases in low-consuming households. Nevertheless, information provision is cheap and best targeted at low-consuming households.Food Consumption/Nutrition/Food Safety,

Consumer Cohorts and Milk Purchases

Fluid milk is the most important product of Norwegian agriculture, and the decline in milk purchase has impact in many rural communities. By decomposing the milk purchase into cohort effects, age effects and year effects we show that the reason for the decline is that older generations purchase more milk than younger generations, and during lifetime consumption decline with age. Consequently, as younger generations replace older generations milk purchase decline. We show that towards 2021 the milk purchase will continue to fall.Milk, Purchases, Cohorts, Food Consumption/Nutrition/Food Safety,

Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness

Consistency of quality is important for brand loyalty and market share in consumer markets. Among consumers of beef, tenderness is the primary quality attribute. We use an experimental auction market to investigate how inconsistency in tenderness affects consumers willingness to pay (WTP) for beef. We find that both the level and the spread of tenderness affect consumers WTP for beef. Categorization the beef into various classes of tenderness increased the total value of the beef by 8%, which suggests that improved tenderness labeling may be a profitable strategy.beef tenderness, consumer demand, experimental auction, marketing, risk aversion, Consumer/Household Economics, C91, D12, D8, Q13,

Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness

We use an experimental auction market to investigate how inconsistency in tenderness affects consumers' WTP for beef. We find that both the level and the spread of tenderness affect consumers' WTP. Categorization the beef into various classes of tenderness increased the total value of the beef by 8%.Consumer/Household Economics,

Unstable Individual Bids and Stable Market Demand

We explore preference stability at the individual and market level. We examine individual bidding behavior among 116 French consumers who participated in experimental auctions conducted seven months apart for five types of fish. We reject preference stability at the individual level, but not at the aggregate market level.aggregation, consumer preferences, demand, experimental auctions, food choice, Marketing, C91, D12, Q13,

The Aluminum Cross

How do you feel? A little warm, but not bad. I gaze down at the kindly old face. Her eyes are closed now, but they will open soon to drink in another gray glimpse of the ambulance..

Iranian Consumers’ Willingness to Pay for Fresh Fish

This paper explores attitudes and willingness to pay (WTP) for Norwegian salmon, Iranian rainbow trout, and Iranian narrow-barred Spanish mackerel among Iranian consumers. An interval regression model found that consumption frequency and product attributes affected WTP. Salmon was ranked highest on taste, nutrition, and convenience but lowest on price. The average estimated WTP for salmon was US $14.82, which is higher than for the other species but below the market price. The main challenges for salmon exporters will be to reduce the current high price and to differentiate salmon further in the market