Consumers’ Willingness to Pay for Eco-Certified Wood Products

Kimberly L. Jensen, Paul M. Jakus, Burton C. English and Jamey Menard

Journal of Agricultural & Applied Economics, 2004, vol. 36, issue 3, pages 617-626

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.

Keywords: eco-certification; eco-labeling; price premium; spike models (search for similar items in EconPapers)
JEL-codes: Q5 Q23 (search for similar items in EconPapers)

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Related works:
Working Paper: Consumers’ Willingness to Pay for Eco-Certified Wood Products (2003)
Working Paper: Consumers’ Willingness to Pay for Eco-Certified Wood Products (2004)
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