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Consumers' Willingness to Pay for Eco-Certified Wood Products

  • Kimberly L. Jensen (a1), Paul M. Jakus (a2), Burton C. English (a1) and Jamey Menard (a1)

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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Keywords

Consumers' Willingness to Pay for Eco-Certified Wood Products

  • Kimberly L. Jensen (a1), Paul M. Jakus (a2), Burton C. English (a1) and Jamey Menard (a1)

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