Do consumer beliefs matter for consumer preferences and willingness to pay for wild and farmed fish?

Abstract

This article investigates how consumer beliefs affect preferences and willingness to pay for wild-caught fish as well as the differences in market price for wild and farmed fish. A total of 245 Bangladeshi fish consumers were selected using a purposive sampling technique. A logistic regression was the main empirical tool, while the Propensity Score Matching (PSM) method was used to investigate the market price differences for wild and farmed fish. The results indicate that consumers prefer wild fish when the wild fish is antibiotic-free, healthier, reliable, safe, tasty and relatively more expensive and a superior tactile sensation. Consumers are willing to pay more for wild fish when the fish has pleasant flavor, nutrition, taste, and reliability assurance. However, farmed fish is often less expensive than wild fish and has quality challenges related to reliability, taste and flavor.