Cognition behind land transactions: How diverse forest value orientations shape willingness, price expectations, and forestland transfer behavior in rural China

Forestland transfer has been promoted as a key policy instrument to address severe parcelization and improve management efficiency. However, in China, despite long-standing policy support, actual transfer rates remain persistently low. While existing research attributes this to institutional and economic barriers, little is known about how smallholders’ subjective perceptions of forest values influence their market participation. This study examines how forest value orientations (FVOs), defined as smallholders’ perceived importance of different forest functions, shape their willingness, price expectations, and actual behaviors regarding forestland transfers. Using household-level data collected from timber-forest farmers across several provinces in southern China, exploratory factor analysis identifies three distinct value dimensions: ecological, economic, and emotional-symbolic. Binary Logit, Heckman two-step, and Cragg double-hurdle models are applied to estimate their effects on willingness-to-transfer, willingness-to-pay (WTP), willingness-to-accept (WTA), and realized transactions. Results show that ecological values significantly inhibit both transfer willingness and participation, likely reflecting the public-good nature and management burdens of ecologically valuable forests. In contrast, economic values promote active market engagement and narrow the WTA–WTP gap by aligning expectations with market benchmarks. Emotional-symbolic values, though less influential overall, positively affect transfer intentions, reflecting their role as private, exchangeable benefits under China’s temporary transfer arrangements. The findings highlight that subjective forest value perceptions critically shape market participation and price formation. Recognizing these heterogeneous value orientations can help policymakers design more nuanced, value-sensitive interventions to foster efficient and culturally appropriate forestland markets.