The Theoretical Structure of Producer Willingness to Pay Estimates

Samuel Zapata and Carlos Carpio

No 123434, 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington from Agricultural and Applied Economics Association

Abstract: This paper analyzes the theoretical underpinnings of producers’ willingness to pay (WTP) for novel inputs. In addition to conceptualizing the WTP function for producers, we derive its comparative statics and demonstrate the use of these properties to estimate input quantities demanded, outputs supplied, and price elasticities. We also discuss implications of the comparative statics results for the specification of empirical producer WTP models and survey design.

Keywords: Agribusiness; Demand and Price Analysis; Environmental Economics and Policy; Production Economics (search for similar items in EconPapers)
Pages: 28
Date: 2012
New Economics Papers: this item is included in nep-env
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Citations: View citations in EconPapers (3)

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Journal Article: The theoretical structure of producer willingness to pay estimates (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea12:123434

DOI: 10.22004/ag.econ.123434

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