Market Participation and Willingness to Pay for Environmentally Certified Products
The purpose of this study is to ascertain (1) consumers' willingness to participate in a market for environmentally certified hardwood products, and (2) the ‘price premium’ consumers would be willing to pay for a certified oak shelving board. Further, we test how demographics influence market participation and the price premium. Results were obtained through a telephone survey of 811 Pennsylvania residents. Overall, 42.2% supported certification and were willing to pay higher prices for certified products, 45.5% supported certification but were not willing to pay higher prices, and 11.3% did not support certification regardless of costs. The profile of those most likely to participate in a certified wood product market includes nonhomeowners, female, college-educated, recyclers, and previous purchasers of environmentally labeled nonwood products. Among those supporting certification and willing to pay a premium, consumers were willing to pay $10.18 above the cost of an uncertified board ($28.80). For. Sci. 49(4):632–641.
Keywords: Logistic models; environmental management; forest; forest management; forest resources; forestry; forestry research; forestry science; market segments; natural resource management; natural resources
Document Type: Miscellaneous
Affiliations: 1: Professor Department of Agricultural Economics, The University of Tennessee, 302 Morgan Hall, Knoxville, TN, 37996-4518, Phone: 865-974-7481; Fax: 865-974-4829 email@example.com 2: Professor Department of Economics, Utah State University, 3530 Old Main Hill, Logan, UT, 84322-3530, Phone: 435-797-2310 firstname.lastname@example.org 3: Professor Department of Agricultural Economics, The University of Tennessee, 302 Morgan Hall, Knoxville, TN, 37996-4518, Phone: 865-974-7486 email@example.com 4: Research Associate Department of Agricultural Economics, The University of Tennessee, 302 Morgan Hall, Knoxville, TN, 37996-4518, Phone: 865-974-7485 firstname.lastname@example.org
Publication date: August 1, 2003
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