Premium
Price premiums for ecolabelled seafood: MSC certification in Germany
Author(s) -
Asche Frank,
Bronnmann Julia
Publication year - 2017
Publication title -
australian journal of agricultural and resource economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 1364-985X
DOI - 10.1111/1467-8489.12217
Subject(s) - price premium , willingness to pay , incentive , stewardship (theology) , pollock , certification , economics , german , preference , business , fishery , agricultural economics , microeconomics , biology , geography , management , archaeology , politics , political science , law
Whether ecolabelled seafood actually provides incentives to improve the management of fisheries remains a controversial issue. A number of stated preference studies indicate a substantial willingness to pay for ecolabelled seafood. Early evidence from actual market data supports the existence of a premium, while more recent papers provide a more nuanced picture. In this paper, a hedonic price model for whitefish species on the German market is estimated that includes information on Marine Stewardship Council ( MSC ) labelling, the leading seafood ecolabel in Germany. The model also allows the potential premium to vary by species. Results indicate that MSC premiums in Germany vary substantially between species, from a hefty 30.6 per cent for the high‐end species cod, to a 4 per cent premium for Alaska pollock, and no premiums for saithe.