Price Flexibility Analysis of Virginia Hard Clams: Economic Considerations for Management of the Fishery

摘要

Price flexibility coefficients estimated for ex-vessel prices of Virginia hard clams indicate a very small decrease in price would occur given a 1% increase in the quantity supplied by Virginia harvesters. Data used were monthly landings of Virginia, New York, New Jersey, Rhode Island, Maryland and North Carolina over the period 1960-1979. Fifty-eight percent of the ex-vessel price changes are not explained by the supply response model used, suggesting other market and consumer demand factors play a large role in determining ex-vessel price. This conclusion is reached considering the historical range of production in Virginia.