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Willingness-to-Pay for Sustainable Aquaculture Products: Evidence from Korean Red Seabream Aquaculture

Korea Maritime Institute, Haeynag-ro 301beon-gil, Busan, Korea
Sustainability 2019, 11(6), 1577; https://doi.org/10.3390/su11061577
Received: 16 February 2019 / Revised: 11 March 2019 / Accepted: 11 March 2019 / Published: 15 March 2019
(This article belongs to the Special Issue Seafood Sustainability)
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Abstract

A New Ecological Paradigm scale was used as a measurement tool to determine consumer perception of the environment through the context of red seabream (Pagrus major) aquaculture and the use of copper-alloy nets. To identify the underlying dimension of consumer perception, exploratory factor analysis was conducted, which showed that consumer perception comprised two dimensions—nature and balance, and human dominance—yielding two indicators as independent variables for a contingent valuation method estimation. The estimation results indicate that demographic variables and one consumer perception variable (i.e., the human dominance indicator) are insignificant. However, the economic variable, one consumer perception variable (i.e., nature and balance), and seafood preference are significant. Finally, willingness-to-pay was estimated for sustainable aquaculture products by comparing the mean willingness-to-pay within New Ecological Paradigm-level groups. View Full-Text
Keywords: contingent valuation method; double-bounded dichotomous choice; environmental economics; environmental psychology; New Ecological Paradigm; seafood preference; copper-alloy nets contingent valuation method; double-bounded dichotomous choice; environmental economics; environmental psychology; New Ecological Paradigm; seafood preference; copper-alloy nets
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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Yi, S. Willingness-to-Pay for Sustainable Aquaculture Products: Evidence from Korean Red Seabream Aquaculture. Sustainability 2019, 11, 1577.

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