Consumers' Willingness to Pay for Eco-Certified Wood Products
AbstractWe use Kristromâ€™s simple spike model to assess the factors influencing consumersâ€™ willingness to pay a premium for a variety of certified wood products. A survey of over 1,600 Pennsylvania and Tennessee residents found that approximately 35% were willing to pay some positive â€œpremiumâ€ for environmentally certified wood products. For three types of weed products (a $28.80 shelf, a $199 chair, and a $799 table), we find the estimated market premiums to be $3.74, $15.94, and $45.07, respectively.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 36 (2004)
Issue (Month): 03 (December)
eco-certification; eco-labeling; price premium; spike models; Q5; Q23;
Other versions of this item:
- Kimberly Jensen & Paul Jakus, 2003. "Consumers’ Willingness to Pay for Eco-Certified Wood Products," Working Papers 2003-03, Utah State University, Department of Economics.
- Kimberly Jensen & Paul Jakus & Burton English & Jamey Menard, 2004. "Consumers’ Willingness to Pay for Eco-Certified Wood Products," Working Papers 2004-08, Utah State University, Department of Economics.
- Jensen, Kimberly L. & Jakus, Paul M., 2003. "Consumers' Willingness To Pay For Eco-Certified Wood Products," 2003 Annual meeting, July 27-30, Montreal, Canada 22159, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Xiaogu Li & Christopher Clark & Kimberly Jensen & Steven Yen, 2014. "Will consumers follow climate leaders? The effect of manufacturer participation in a voluntary environmental program on consumer preferences," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, vol. 16(1), pages 69-87, January.
- Aguilar, Francisco X. & Vlosky, Richard P., 2007. "Consumer willingness to pay price premiums for environmentally certified wood products in the U.S," Forest Policy and Economics, Elsevier, vol. 9(8), pages 1100-1112, May.
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