Hedonic prices for fish: Tuna prices in Hawaii

Over the: past two decades, the marketing of fish has recognized the importance of quality. Yet empirical analysis of market transactions could give us little insight into the value of different qualities of fish because market data are typically aggregated. We exploit a dataset on the auction price of tuna sold in Hawaii to estimate a hedonic model. The model provides empirical estimates of price increments due to species, quality of the fish such as size or fat content, method of handling, and market conditions. The empirical results are also used to estimate price flexibilities for landings in Hawaii.