Maguro Price at Tsukiji Fish Market
Date Issued
2011
Date
2011
Author(s)
Chang, Yih-Farn
Abstract
The purpose of this article is to discuss how the price of bluefin tuna is affected, and discuss how to estimate price elasticity of bluefin tuna. Take the world biggest fish market -- Tsukiji Fish Market as an example, we used the data sets from Tokyo Central Wholesale Market and combined with current literature to interpret how price and volume of bluefin tuna changed. We found holidays have significant impact on daily volume of fresh bluefin tuna.While the volume of trading days before the holidays had increased to response the demand of the holidays, the volume of trading days after holidays had increased to reflect the stock consumption of bluefin tuna. Compared with monthly elasticity, daily elasticity is relatively small. To sum up, the data sets of fresh and freeze bluefin tuna have shown different characteristics, and these two categories of bluefin tuna are sold separate auction markets at Tsukiji Fish Market. This implies fresh and freeze bluefin tunas are not substitution goods.
Subjects
Tsukiji
fish market
maguro
bluefin tuna
price elasticity
seasonality
auction
Type
thesis
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