The value of quality: implicit prices for consumer groups purchasing prawn at Bangladesh fish markets

Abstract

ABSTRACT The expansion of literature on food production in developing countries has shifted the focus toward higher-quality and healthier food options. This study examined the implicit price of prawn quality attributes for consumers in Bangladesh, contributing to this transition. The study applied a semi-logarithmic hedonic price model based on interviews with 310 consumers from the Bangladesh fish retail markets. The results indicated that the implicit price increased by 5.3% when the prawn was categorized as large in size. The quality attributes like bright/greenish color, absence of roe, freshness, and clear eyes significantly offer a price premium whereas odor decreases the price. Further, results varied across consumer groups, with higher-income, employed, adult, and large-household consumers valuing more quality attributes than other subgroups. By quantifying the price impacts of specific quality attributes that met consumer expectations, this research enhanced the understanding of prawn pricing dynamics and established a foundation for market improvement strategies.