A study for willingness to pay of seafood: Case of Jeju island

Despite the importance of seafood in the domain of marine tourism, scant studies have investigated the charac- teristics of seafood consumers. In order to affiliate this void, this research is to investigate the determinants of sea food willingness to pay in the area of Jeju island. As the candidates of explanatory variables, this research employ- ees price fairness, risk, diversity, and crowding. The main instrument of this research is survey. Also, this study performed field survey at Jeju airport. Then, this study used 252 observations for the data analysis. To analyze the data, this study carried out frequency analysis, exploratory factor analysis, reliability test, correlation analysis, and multiple regression analysis. Regarding the results, price fairness and diversity positively affects the willingness to pay. Also, the results presents that the adequate level of crowding maximizes the willingness to pay. Namely, there is an inverted U-shape association between crowding and willingness to pay. However, risk is identified as non- significant attribute to account for willingness to pay. The results of this research could offer the information for the management of seafood. This could become the practical implication of this research.