Consumers’ willingness to pay more for Shrimps in Suburban Mumbai

Shyam, S Salim (2012) Consumers’ willingness to pay more for Shrimps in Suburban Mumbai. Agricultural Economics Research Review, 25 (2). pp. 347-350.

[img]
Preview
PDF
205Kb

Abstract

The study has been conducted with the objectives of finding whether the consumers are willing to pay more for shrimps in an suburban area of Mumbai, and if so, how much and what are the factors behind it. The study has revealed that the consumers are willing to pay a price higher than the market price of shrimps. The five factors behind their willingness to pay more for shrimps are: taste and preferences, lower prices, high nutritional value with low fat-content, proximity (easy access), and familiarity with a shop, in that order. The factor ‘taste and preference’ has been found so dominating that consumers are willing to pay even ` 500/kg in comparison to the prevailing market price of`` 225± 25/kg. The willingness to pay a higher price for other attributes varied from ` 400/kg to ` 280/kg. Out of the five determinants, two, viz ‘taste and preferences’ and ‘nutrition’ have been found statistically significant. And therefore regression analysis has been carried out for these two variables using Tobit model.

Item Type:Article
Uncontrolled Keywords:Willingness to pay; Tobit model; contingent valuation; shrimps
Subjects:Socio Economic and Extension
Divisions:CMFRI-Cochin > Fishery Extension
ID Code:9065
Deposited By:Arun Surendran
Deposited On:09 Nov 2012 13:52
Last Modified:09 Nov 2012 13:52

Repository Staff Only: item control page