The theoretical structure of producer willingness to pay estimates

Samuel Zapata and Carlos Carpio

Agricultural Economics, 2014, vol. 45, issue 5, 613-623

Abstract: This article analyzes the theoretical underpinnings of producer willingness to pay (WTP) for new inputs. In addition to conceptualizing the producer WTP function, we derive its comparative statics and show how these properties can be used to estimate quantities demanded or supplied and price elasticities. We also discuss implications of the comparative statics.

Date: 2014
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Working Paper: The Theoretical Structure of Producer Willingness to Pay Estimates (2012)
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