Consumers' Willingness to Pay for Eco-Certified Wood Products

Authors

Kimberly L. Jensen
Paul Mark Jakus, Utah State UniversityFollow
Burton C. English
Jamey Menard

Document Type

Article

Journal/Book Title/Conference

Journal Agricultural and Applied Economics

Volume

36

Issue

3

Publication Date

2004

First Page

617

Last Page

626

Abstract

We use Kriström'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 wood 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.

Recommended Citation

Jensen, Kimberly L., Paul M. Jakus, Burton C. English and Jamey Menard. 2004. “Consumers’ Willingness to Pay for Eco-Certified Wood Products.” J. Agricultural and Applied Economics, 36(3):617-626.