Consumer Preference for Sustainable Attributes in Plants: Evidence from Experimental Auctions
ABSTRACT Experimental auctions were employed to investigate U.S. and Canadian consumers’ willingness to pay for sustainable attributes in plants. The results show consumers are willing to pay a price premium for energy and water savings in plant production of $0.15 and $0.12, respectively. Consumers...
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| Veröffentlicht in: | Agribusiness (New York, N.Y.) N.Y.), 2016-04, Vol.32 (2), p.222-235 |
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| container_title | Agribusiness (New York, N.Y.) |
| container_volume | 32 |
| creator | Yue, Chengyan Campbell, Ben Hall, Charles Behe, Bridget Dennis, Jennifer Khachatryan, Hayk |
| description | ABSTRACT
Experimental auctions were employed to investigate U.S. and Canadian consumers’ willingness to pay for sustainable attributes in plants. The results show consumers are willing to pay a price premium for energy and water savings in plant production of $0.15 and $0.12, respectively. Consumers are only willing to pay $0.08 more for sustainably labeled product. Latent class segmentation analysis identifies three distinct consumer segments: Import‐Liking, Mainstream, and Eco‐local. Mainstream Consumers were the largest segment and willing to pay only modest premiums for eco‐friendly attributes. Eco‐local consumers comprised 14% of consumers and they were willing to pay the highest amount for the improved production methods and container types, while having the highest willing to pay for local and domestic products. [EconLit citations: D44, M31]. |
| doi_str_mv | 10.1002/agr.21435 |
| format | Article |
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Experimental auctions were employed to investigate U.S. and Canadian consumers’ willingness to pay for sustainable attributes in plants. The results show consumers are willing to pay a price premium for energy and water savings in plant production of $0.15 and $0.12, respectively. Consumers are only willing to pay $0.08 more for sustainably labeled product. Latent class segmentation analysis identifies three distinct consumer segments: Import‐Liking, Mainstream, and Eco‐local. Mainstream Consumers were the largest segment and willing to pay only modest premiums for eco‐friendly attributes. Eco‐local consumers comprised 14% of consumers and they were willing to pay the highest amount for the improved production methods and container types, while having the highest willing to pay for local and domestic products. [EconLit citations: D44, M31].</description><identifier>ISSN: 0742-4477</identifier><identifier>EISSN: 1520-6297</identifier><identifier>DOI: 10.1002/agr.21435</identifier><identifier>CODEN: AGRBEY</identifier><language>eng</language><publisher>Hoboken: Blackwell Publishing Ltd</publisher><subject>Auctions ; Consumers ; Consumption ; Containers ; Domestic ; Energy conservation ; Energy consumption ; Industrial plants ; Plant production ; Production methods ; Segmentation ; Segments ; Sustainability ; Willingness to pay</subject><ispartof>Agribusiness (New York, N.Y.), 2016-04, Vol.32 (2), p.222-235</ispartof><rights>2015 Wiley Periodicals, Inc.</rights><rights>Copyright © 2016 by Wiley Periodicals, Inc.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c4655-339fa86b2507daa4c251e3fe7cd3535ba7c4bcda9421f61026d4b9538ff3dc73</citedby><cites>FETCH-LOGICAL-c4655-339fa86b2507daa4c251e3fe7cd3535ba7c4bcda9421f61026d4b9538ff3dc73</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://onlinelibrary.wiley.com/doi/pdf/10.1002%2Fagr.21435$$EPDF$$P50$$Gwiley$$H</linktopdf><linktohtml>$$Uhttps://onlinelibrary.wiley.com/doi/full/10.1002%2Fagr.21435$$EHTML$$P50$$Gwiley$$H</linktohtml><link.rule.ids>314,776,780,1411,27901,27902,45550,45551</link.rule.ids></links><search><creatorcontrib>Yue, Chengyan</creatorcontrib><creatorcontrib>Campbell, Ben</creatorcontrib><creatorcontrib>Hall, Charles</creatorcontrib><creatorcontrib>Behe, Bridget</creatorcontrib><creatorcontrib>Dennis, Jennifer</creatorcontrib><creatorcontrib>Khachatryan, Hayk</creatorcontrib><title>Consumer Preference for Sustainable Attributes in Plants: Evidence from Experimental Auctions</title><title>Agribusiness (New York, N.Y.)</title><addtitle>Agribusiness</addtitle><description>ABSTRACT
Experimental auctions were employed to investigate U.S. and Canadian consumers’ willingness to pay for sustainable attributes in plants. The results show consumers are willing to pay a price premium for energy and water savings in plant production of $0.15 and $0.12, respectively. Consumers are only willing to pay $0.08 more for sustainably labeled product. Latent class segmentation analysis identifies three distinct consumer segments: Import‐Liking, Mainstream, and Eco‐local. Mainstream Consumers were the largest segment and willing to pay only modest premiums for eco‐friendly attributes. Eco‐local consumers comprised 14% of consumers and they were willing to pay the highest amount for the improved production methods and container types, while having the highest willing to pay for local and domestic products. [EconLit citations: D44, M31].</description><subject>Auctions</subject><subject>Consumers</subject><subject>Consumption</subject><subject>Containers</subject><subject>Domestic</subject><subject>Energy conservation</subject><subject>Energy consumption</subject><subject>Industrial plants</subject><subject>Plant production</subject><subject>Production methods</subject><subject>Segmentation</subject><subject>Segments</subject><subject>Sustainability</subject><subject>Willingness to pay</subject><issn>0742-4477</issn><issn>1520-6297</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2016</creationdate><recordtype>article</recordtype><recordid>eNqF0U9rFDEYBvAgFdxWD36DgJf2MG3-Z6a37bJuK4sWXRAECZnMOyV1dmabZGz32zc61kNBPOXye17evA9Cbyk5pYSwM3sTThkVXL5AMyoZKRSr9AGaES1YIYTWr9BhjLeEkEoRPUPfF0Mfxy0EfB2ghQC9A9wOAX8ZY7K-t3UHeJ5S8PWYIGLf4-vO9ime4-VP30w8DFu8fNhB8Fvok-3wfHTJ58Gv0cvWdhHe_HmP0Ob9crO4LNafVleL-bpwQklZcF61tlQ1k0Q31grHJAXegnYNl1zWVjtRu8ZWgtFWUcJUI-pK8rJteeM0P0LH09hdGO5GiMlsfXTQ5UVhGKOhJSmJLrkq_091RSqpmCCZvntGb4cx9PkfWZVU5WW5yOpkUi4MMeYbml0-gw17Q4n5VYnJlZjflWR7Ntl738H-39DMV5-fEsWU8DHBw9-EDT-M0lxL8_Xjylx8W1f0g6bmgj8Cb32b1A</recordid><startdate>20160401</startdate><enddate>20160401</enddate><creator>Yue, Chengyan</creator><creator>Campbell, Ben</creator><creator>Hall, Charles</creator><creator>Behe, Bridget</creator><creator>Dennis, Jennifer</creator><creator>Khachatryan, Hayk</creator><general>Blackwell Publishing Ltd</general><general>Wiley Periodicals Inc</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7ST</scope><scope>C1K</scope><scope>SOI</scope><scope>7TA</scope><scope>8FD</scope><scope>JG9</scope></search><sort><creationdate>20160401</creationdate><title>Consumer Preference for Sustainable Attributes in Plants: Evidence from Experimental Auctions</title><author>Yue, Chengyan ; Campbell, Ben ; Hall, Charles ; Behe, Bridget ; Dennis, Jennifer ; Khachatryan, Hayk</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c4655-339fa86b2507daa4c251e3fe7cd3535ba7c4bcda9421f61026d4b9538ff3dc73</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2016</creationdate><topic>Auctions</topic><topic>Consumers</topic><topic>Consumption</topic><topic>Containers</topic><topic>Domestic</topic><topic>Energy conservation</topic><topic>Energy consumption</topic><topic>Industrial plants</topic><topic>Plant production</topic><topic>Production methods</topic><topic>Segmentation</topic><topic>Segments</topic><topic>Sustainability</topic><topic>Willingness to pay</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Yue, Chengyan</creatorcontrib><creatorcontrib>Campbell, Ben</creatorcontrib><creatorcontrib>Hall, Charles</creatorcontrib><creatorcontrib>Behe, Bridget</creatorcontrib><creatorcontrib>Dennis, Jennifer</creatorcontrib><creatorcontrib>Khachatryan, Hayk</creatorcontrib><collection>Istex</collection><collection>CrossRef</collection><collection>Environment Abstracts</collection><collection>Environmental Sciences and Pollution Management</collection><collection>Environment Abstracts</collection><collection>Materials Business File</collection><collection>Technology Research Database</collection><collection>Materials Research Database</collection><jtitle>Agribusiness (New York, N.Y.)</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Yue, Chengyan</au><au>Campbell, Ben</au><au>Hall, Charles</au><au>Behe, Bridget</au><au>Dennis, Jennifer</au><au>Khachatryan, Hayk</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Consumer Preference for Sustainable Attributes in Plants: Evidence from Experimental Auctions</atitle><jtitle>Agribusiness (New York, N.Y.)</jtitle><addtitle>Agribusiness</addtitle><date>2016-04-01</date><risdate>2016</risdate><volume>32</volume><issue>2</issue><spage>222</spage><epage>235</epage><pages>222-235</pages><issn>0742-4477</issn><eissn>1520-6297</eissn><coden>AGRBEY</coden><abstract>ABSTRACT
Experimental auctions were employed to investigate U.S. and Canadian consumers’ willingness to pay for sustainable attributes in plants. The results show consumers are willing to pay a price premium for energy and water savings in plant production of $0.15 and $0.12, respectively. Consumers are only willing to pay $0.08 more for sustainably labeled product. Latent class segmentation analysis identifies three distinct consumer segments: Import‐Liking, Mainstream, and Eco‐local. Mainstream Consumers were the largest segment and willing to pay only modest premiums for eco‐friendly attributes. Eco‐local consumers comprised 14% of consumers and they were willing to pay the highest amount for the improved production methods and container types, while having the highest willing to pay for local and domestic products. [EconLit citations: D44, M31].</abstract><cop>Hoboken</cop><pub>Blackwell Publishing Ltd</pub><doi>10.1002/agr.21435</doi><tpages>14</tpages></addata></record> |
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| identifier | ISSN: 0742-4477 |
| ispartof | Agribusiness (New York, N.Y.), 2016-04, Vol.32 (2), p.222-235 |
| issn | 0742-4477 1520-6297 |
| language | eng |
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| source | Wiley Online Library Journals Frontfile Complete; EBSCOhost Business Source Complete |
| subjects | Auctions Consumers Consumption Containers Domestic Energy conservation Energy consumption Industrial plants Plant production Production methods Segmentation Segments Sustainability Willingness to pay |
| title | Consumer Preference for Sustainable Attributes in Plants: Evidence from Experimental Auctions |
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