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Modeling Demand Function for Norwegian Salmon in Vietnam

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Abstract
  • The formulation of demand functions for aquatic products has been prevalently practiced worldwide, but still represents a rather new phenomenon in the area of applied economics in Vietnam. This paper focuses on estimates of demand functions for Norwegian salmon products. Log-linear functions are used to construct the model. The major objective of the research is to define the own-price elasticity of demand, income elasticity of demand, and cross-price elasticity of demand in the context of the salmon industry. The research findings are hoped to bring some added values to the improved teaching and educational training at Nha Trang University, in addition to providing salmon importers in Vietnam with scientific foundations for making relevant, appropriate decisions in the fast-moving economic integration process. A further step is to compare these findings with those from recent studies cited in literature about theoretical and empirical dimensions of salmon demand.
  • Keywords: Fisheries Economics, Demand function model, Salmon industry, Vietnam, Aquatic products, Norwegian salmon, Elasticity of demand of the salmon
  • Keywords: Fisheries Economics, Demand function model, Salmon industry, Vietnam, Aquatic products, Norwegian salmon, Elasticity of demand of the salmon
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  • Pham, Thai Thanh, Hoai Trong Nguyen and Kim Anh Thi Nguyen. 2008. Modeling Demand Function for Norwegian Salmon in Vietnam. 12 pages. In: Proceedings of the Fourteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 22-25, 2008, Nha Trang, Vietnam: Achieving a Sustainable Future: Managing Aquaculture, Fishing, Trade and Development. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2008.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, The Department of Fisheries and Oceans, Canada; Aquaculture CRSP and AquaFish CRSP; Minh Phu Seafood Corporation; Vietnam Datacommunication Company (VDC); Camau Frozen Seafood Processing Import Export Corporation (Camimex); Long Sinh Limited Company; Mai Linh Group and Nam Viet Corporation.
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