Consumers’ willingness to pay for safer fish: Evidence from experimental auctions in Bangladesh

Abstract

Despite Bangladesh being the world’s fifth-largest aquaculture producer, ensuring quality fish supply and food safety is a major challenge. Illegal practices and the presence of harmful microorganisms consistently compromise the integrity of food items throughout the value chain. To address this, a study was conducted in Bangladesh aimed to estimate consumer willingness to pay (WTP) for safer Tilapia, Pangasius, and Rohu fish using an experimental auction method. Results revealed that consumers’ average willingness to pay was 29%, 10%, and 21% more for safer Tilapia, Pangasius, and Rohu, respectively, compared to less safe options despite being unaware of specific safety attributes or production practices. After getting information about the aquaculture practices used in fish production, bacterial pathogens, antibiotic levels, and heavy metal content, participants expressed their willingness to pay a higher premium of 52% for safer Tilapia, 39% for safer Pangasius, and 34% for safer Rohu fish. This dynamic illustrates that when consumers possess comprehensive product safety information, their willingness to pay becomes more rational and sensitive to minimize health risks. This WTP is more for safer fish, underscoring the critical role of safety certificates and labeling in meeting the needs of an increasingly health-conscious population.