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Consumers' Willingness to Pay for Eco-Certified Wood Products AgEcon
Jensen, Kimberly L.; Jakus, Paul M.; English, Burton C.; Menard, R. Jamey.
We use Kristrom’s simple spike model to assess the factors influencing consumers’ 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 “premium” 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.
Tipo: Journal Article Palavras-chave: Eco-certification; Eco-labeling; Price premium; Spike models; Q5; Q23.
Ano: 2004 URL: http://purl.umn.edu/43452
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Use of Spike Models in Measuring Consumers' Willingness to Pay for Non-GM Oil AgEcon
Hu, Wuyang.
In this paper, Chinese consumers' preferences and their willingness to pay (WTP) for non-genetically modified (GM) vegetable oil were elicited by a payment card approach. In addition to the conventional model, spike models, which were originally developed to evaluate public goods, were adopted in this paper. These spike models recognize the possibility of zero WTP and provide opportunities to analyze two correlated decision stages: whether to pay a premium for non-GM oil and how much the premium is. Results show that consumers behaved consistently in the two decision stages and there is a premium associated with non-GM oil.
Tipo: Journal Article Palavras-chave: Chinese consumers; Non-genetically modified oil; Spike models; Willingness to pay; Food Consumption/Nutrition/Food Safety; Q13; D12; C25.
Ano: 2006 URL: http://purl.umn.edu/43786
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