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Open AccessArticle

Factors Influencing the Willingness to Pay for Aquaponic Products in a Developed Food Market: A Structural Equation Modeling Approach

1
Institute of Agricultural and Forestry Economics (AFO), Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, 1180 Vienna, Austria
2
Institute of Marketing and Innovation, Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, 1180 Vienna, Austria
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(8), 3475; https://doi.org/10.3390/su12083475
Received: 24 March 2020 / Revised: 17 April 2020 / Accepted: 22 April 2020 / Published: 24 April 2020
(This article belongs to the Special Issue Sustainable Consumer Behavior and Food Marketing)
Even in highly developed food markets, aquaponic products have not yet been successfully introduced. This is particularly surprising, as aquaponics is an excellent example of a sustainable circulation food production system. The purpose of this empirical study was to determine the factors that influence consumers’ willingness to pay for aquaponic products. The direct and indirect relationships were tested via Structural Equation Modeling (SEM). Primary data of 315 respondents from Austria were collected. The findings revealed that the willingness to pay for aquaponic products was significantly and directly driven by the purchase intention. As a result, the successful implementation of aquaponics in the market requires the provision of information for consumers. We suggest emphasizing the value of aquaponics as a sustainable food production system, since indirect factors that influence the willingness to pay are (besides the assessment of aquaponics) environmental awareness and green consumption. View Full-Text
Keywords: aquaponics; Structural Equation Modeling; consumer behavior; purchase intention; willingness to pay; sustainability; food market aquaponics; Structural Equation Modeling; consumer behavior; purchase intention; willingness to pay; sustainability; food market
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Eichhorn, T.; Meixner, O. Factors Influencing the Willingness to Pay for Aquaponic Products in a Developed Food Market: A Structural Equation Modeling Approach. Sustainability 2020, 12, 3475.

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