Buyer preferences for quality in first-sale fish markets

This paper examines buyers’ preferences for quality in French first-sale fish markets. Using data covering 72 million transactions between 2011 and 2022, we first estimate quality premiums with an exact matching procedure that controls for product availability. We then apply interval regression models to explain differences in buyers’ willingness-to-pay for high-quality fish. Results show substantial heterogeneity in quality premiums across both lots and species. Econometric estimates further reveal that quality premiums decline with lot size and vary with buyer characteristics. Retailers and supermarkets pay more for high-quality fish, while wholesalers, processors, and canners are less sensitive to quality. These findings highlight how value from quality is distributed along the supply chain and which types of buyers capture it. • High-quality fish commands significant price premiums at first-sale markets • Premiums vary across fish species and transaction lots • Willingness-to-pay for quality declines with lot size • Retailers and supermarkets pay larger premiums than wholesalers and processors • Results show where value from quality is captured along the supply chain