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Finding Nemo: estimating import demand for live reef food fish

Petersen, E. H., Muldoon, G. and Johnston, W. L. (2005) Finding Nemo: estimating import demand for live reef food fish. In: Australian Agricultural and Resource Economics Society 2005 (49th) Conference (AARES), Feb 9-11, 2005, Coffs Harbour, NSW, Australia.

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Article Link(s): https://EconPapers.repec.org/RePEc:ags:aare05:1379...

Abstract

Reef fish traded alive for table food are high value-to-volume products, with demand centred in Hong Kong and southern mainland China. Import demand functions for live reef food fish are estimated for Hong Kong, in aggregate and for individual fish species. Cross-price, income and population elasticities, and the impact of SARS and Chinese New Year on demand, are estimated. Results show that price has a smaller influence on import demand than expected. The most influential factor is Chinese New Year. The price of low and medium-value species exhibited a negative impact, whereas the price of very high-value species exhibited a positive impact, on demand. This suggests that high-value live reef species may be Veblen goods, where consumption increases as a direct function of its price, in this case due to associated prestige and status.

Item Type:Conference or Workshop Item (Paper)
Keywords:Demand and Price Analysis International Relations/Trade Livestock Production/Industries
Subjects:Agriculture > Agriculture (General) > Agricultural economics
Aquaculture and Fisheries > Fisheries > Economic aspects. Finance
Aquaculture and Fisheries > Fisheries > Packing, transportation and storage
Aquaculture and Fisheries > Fisheries > Fishery for individual species
Deposited On:12 Jan 2021 03:00
Last Modified:12 Jan 2021 03:00

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