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Assessing holistic economic value for multifunctional agriculture in the US

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  • Moon, Wanki
  • Griffith, Jacob Wayne
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    Abstract

    This study used contingent valuation method to shed light on public preferences on the multifunctional roles of the US agriculture and to present a holistic estimate of the economic value of the nonmarket goods and services of US agriculture. Contingent valuation survey instrument was administered to a sample composed from the Ipsos web-based panel. Fishbein's model of reasoned behavior and mediation hypothesis were combined to model the relationship between WTP (behavioral intentions) and sets of explanatory variables including attitudes, perceived attributes (about family farms, farmland preservation programs, government involvement in agricultural markets, and ecological state of our world), and socio-demographic profiles. Results show that, while exerting a highly significant impact on WTP, attitudes mediate the effects of the attribute variables on WTP: i.e., the attributes influence WTP directly as well as indirectly through attitudes. The estimated mean WTP was $515 per taxpayer annually. Aggregating individual WTPs across the US taxpayers above 20Â years old produces $105 billion, representing a crude estimate of the economic value that the US consumers place on the multifunctional roles of US agriculture.

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    Bibliographic Info

    Article provided by Elsevier in its journal Food Policy.

    Volume (Year): 36 (2011)
    Issue (Month): 4 (August)
    Pages: 455-465

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    Handle: RePEc:eee:jfpoli:v:36:y:2011:i:4:p:455-465

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    Web page: http://www.elsevier.com/locate/foodpol

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    Keywords: Valuation of Multifunctional Agriculture Willingness to pay Contingent valuation WTO trade rules Nonmarket valuation Mediation hypothesis;

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    Cited by:
    1. Moon, Wanki, 2012. "Conceptualizing Multifunctional Agriculture from a Global Perspective," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119751, Southern Agricultural Economics Association.
    2. Yuan, Yuan & Boyle, Kevin J. & You, Wen & Fuller, Harry M., 2012. "A Nationwide Comparison of Farmland Conservation Easement Valuation," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124836, Agricultural and Applied Economics Association.
    3. Drevs, Florian & Tscheulin, Dieter K. & Lindenmeier, Jörg & Renner, Simone, 2014. "Crowding-in or crowding out: An empirical analysis on the effect of subsidies on individual willingness-to-pay for public transportation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 59(C), pages 250-261.

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