Personal and socioeconomic factors affecting perceived knowledge of farmed fish

Abstract

The global decline in wild fish has given impetus to the rapid growth of seafood produced by aquaculture, as well as of farmed fish (FF). Although product knowledge is directly linked to fish consumption, continuous asymmetric information leads to consumer ambiguity and confusion regarding their knowledge of farmed fish. However, ambiguity tolerance (AT) and confusion avoidance (CA) as personal and relevant socio-economic factors positively affect fish consumption. Despite such potential of these factors, little research has investigated if the personal and socio-economic factors are associated with consumers’ value perception of FF knowledge. Therefore, this study analyses the effects of AT, CA and socio-economic factors on consumers’ acquisition of knowledge of farmed fish. A total sample of 1041 households from the two major Bangladeshi urban areas of Dhaka and Chittagong were interviewed using a structured questionnaire. The data were analysed employing exploratory factor analysis and the ordered probit regression model. The findings reveal that AT affects FF knowledge positively and significantly but that CA does not. Individuals with a high level of fish consumption and who do their fish shopping personally are more likely to gather FF knowledge. However, those who buy fish from the supermarket and are members of an environmental organisation are not interested in doing so. The findings also lead to significant managerial implications for improving ways to develop substantial factors to increase FF knowledge and the consumption of such fish, which will benefit consumers and the aquaculture industry.