CONSUMERS' WILLINGNESS TO PAY FOR AQUACULTURE FISH PRODUCTS VS. WILD-CAUGHT SEAFOOD - A CASE STUDY IN HAWAII

This study aims to investigate Hawaii consumers' willingness to pay for fish product attributes including farmed vs. wild-caught. Hawaii presents an interesting case study as per capita seafood consumption is around three times the national average and 75% of seafood products are imported either from the U.S. mainland or foreign sources. For this study, questionnaires were administered both in-person and online. Conjoint analysis of four different fish species (tuna, salmon, tilapia and moi pacific threadfin), measured consumer willingness to pay for species-specific attributes including both hypothetical and actual attributes available on the market. The results indicate Hawaii consumers are willing to pay more for wild-caught fish than farm raised and mare for fresh than previously frozen fish with the degree of preference varying across species. This research can be used to better target markets and facilitate policy decisions pertaining to the fisheries, aquaculture and seafood industries.