Consumers' Willingness to Pay for Eco-Certified Wood Products

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.

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