Do concerns for the environmental credentials of salmon aquaculture translate into WTP a price premium for sustainably farmed fish? A contingent valuation study in Ireland and Norway

In this paper, Norwegian and Irish consumers’ willingness-to-pay for salmon that is produced under more sustainable aquaculture practices is examined using the contingent valuation method. A bivariate probit model is estimated where the consideration of environmentally friendly fish farming at time of purchase is jointly estimated with willingness-to-pay. The predicted joint probabilities of the bivariate probit model are calculated in order to examine if concerns for the environmental credentials of salmon aquaculture translate into willingness-to-pay a price premium for sustainably farmed fish. The results suggest that environmental concerns and attitudes are not the sole motivating factors influencing consumption behaviours.