Estimating prices for “new” aquaculture species: A hedonic pricing approach

Assessing the potential economic and financial feasibility of a new aquaculture operation requires, amongst other things, an estimate price product is expected to receive once produced. For species, such prices may not be apparent in market. In this study, we develop hedonic pricing model species being considered for aquaculture, but which does have current market presence Australia. The includes information on wide range that are currently traded market, including low high value species; farmed wild caught, domestically produced or imported. characteristics these form (e.g., whole, fillets, fresh, frozen, etc.) taste texture, moistness) regressed against their price. Four different functional forms applied: log-linear, linear, semi-loglinear use Box-Cox transformation variable. Sensory testing was undertaken assess used provide estimates its likely if it