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Resources 2017, 6(3), 30; doi:10.3390/resources6030030

Households’ Willingness-to-Pay for Fish Product Attributes and Implications for Market Feasibility of Wastewater-Based Aquaculture Businesses in Hanoi, Vietnam

1
Ministry of Health and Wellness, Government of Alberta, 10025 Jasper Avenue, Edmonton, AB T5J1S6, Canada
2
Resource Recovery and Reuse, Water Quality and Health Research Group, International Water Management Institute (IWMI), P. O. Box 2075, Colombo 10120, Sri Lanka
3
Vietnam National University of Agriculture (VNUA), Trau Quy, Gia Lan, Hanoi, Vietnam
*
Author to whom correspondence should be addressed.
Received: 29 April 2017 / Revised: 22 June 2017 / Accepted: 10 July 2017 / Published: 21 July 2017
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Abstract

A choice experiment was used to assess households’ willingness-to-pay (WTP) for informational attributes (sources of water used to rear fish, and certification) of fish products in Hanoi, Vietnam. The study showed that households’ purchasing decisions are influenced by their access to information of food product attributes and ascribe an economic value to it. The results indicated that households are willing to pay 51% (USD 1.11 per kg) above the prevailing market price of fish for information to know if wastewater is used to rear the fish they consume. Similarly, they are willing to pay 20% above the prevailing market price of fish (USD 0.43 per kg) to know if freshwater is used as a rearing medium. It is important to note that the increased marginal WTP is for information on whether the fish they consume is raised in wastewater over freshwater. This supports the notion of households’ concern over the safety of consuming wastewater-raised fish. Households are also willing to pay 65% (USD 1.42 per kg) above the prevailing market price for certified fish. Based on the cost of fish certification and WTP estimates, we found a total economic benefit of USD 172 million for the implementation of a wastewater-raised fish business model in Hanoi. The demand for wastewater-raised fish is likely to be affected by households’ perception of certification by a trusted government agency, source of water used to raise the fish, age, income and household size. View Full-Text
Keywords: wastewater use; fish safety; willingness-to-pay; informational attributes; choice experiments; aquaculture wastewater use; fish safety; willingness-to-pay; informational attributes; choice experiments; aquaculture
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Danso, G.K.; Otoo, M.; Linh, N.D.; Madurangi, G. Households’ Willingness-to-Pay for Fish Product Attributes and Implications for Market Feasibility of Wastewater-Based Aquaculture Businesses in Hanoi, Vietnam. Resources 2017, 6, 30.

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