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Volume :10 Issue : 2 2003      Add To Cart                                                                    Download

Demand for Fish in Kuwait: Policy Reforms and their Implications for Consumer Welfare

Auther : Mahmoud A. Bushehri

This paper estimates demand functions for eleven types of fish that are mostly consumed in Kuwait. Toward this end, quarterly time series data on retail consumption and prices from the period 1974-1998 were used to determine the factors influencing the demand for the individual fish species. The retail demands for the fish groups were analyzed via the Rotterdam model. The empirical results from the system suggest that the demand relationships for most fish species are characterized by high price elasticities meaning that the retail consumption's are highly responsive to changes in their respective prices. In addition, the finding indicates that cross-price elasticities between fish species are mostly positive but in general are moderate in the sense that the retail consumption of any specific type will increase moderately in response to an increase in prices of other species. The short-run welfare costs on the consumers from hypothetical regulatory catch restrictions were also measured and were found to be small.

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