Hedonic price model of Hawaiʻi ʻAhi Tuna (Thunnus obesus and Thunnus albacares) market: Implications of climate change and shark depredation

In Hawaiʻi, the prices of ʻ ahi tuna, i.e., bigeye tuna ( Thunnus obesus ) and yellowfin tuna ( Thunnus albacares ), are influenced by numerous factors. This study utilizes a hedonic price model to estimate tuna price using fish characteristics, trip-specific information, daily market conditions, foreign imports, individual seller effects, and time effects. Sea surface temperature (SST) at the fishing location and trip length are used as proxies for fish quality. Higher SST and longer trip length are associated with lower fish prices, reflecting their negative impact on quality. The study provides important implications of climate change on future tuna prices in Hawaiʻi. In addition to higher SST, climate change impacts on tuna habitat, leading to increased vessel travel distances; climate-induced reductions in tuna body size; and climate effects on tuna abundance, biomass, spatial distribution, and catchability, which affect daily supply—all have significant effects on tuna prices. The study also estimates the price impact of shark depredation and assesses its negative effect on revenue.