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Role of information in the valuation of unfamiliar goods—the case of genetic resources in agriculture

Annika Tienhaara (), Heini Ahtiainen, Eija Pouta and Mikolaj Czajkowski
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Annika Tienhaara: Natural Resources Institute Finland (Luke)
Heini Ahtiainen: Natural Resources Institute Finland (Luke)
Eija Pouta: Natural Resources Institute Finland (Luke)

No 2019-07, Working Papers from Faculty of Economic Sciences, University of Warsaw

Abstract: The paper uses data from a discrete choice experiment to examine information effects on stated preferences for an unfamiliar environmental good, i.e. agricultural genetic resources. We define two groups of respondents based on their use of additional information provided in an internet survey, and model information use and its effect on individual preferences and scale using the logit and mixed logit models. Our findings indicate that both sociodemographic and attitudinal variables affect the use of information, with the respondent’s age, gender, familiarity and perceptions of stakeholder responsibilities having a significant effect. The results show individual preference heterogeneity, but no significant differences in scale between the information groups after allowing the mean coefficients for the attributes to differ. Those who have used the additional information derive higher utility from the changes in the protection of agricultural genetic resources. Our results highlight the importance of genetic resource conservation and controlling for the effects of information use in choice experiment models for unfamiliar goods.

Keywords: Agricultural genetic resources; Discrete choice experiments; Environmental valuation; Information effects (search for similar items in EconPapers)
JEL-codes: Q51 Q57 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2019
New Economics Papers: this item is included in nep-agr, nep-dcm and nep-env
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Working Paper: Role of information in the valuation of unfamiliar goods – the case of genetic resources in agriculture (2017) Downloads
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