CONSUMERS' WILLINGNESS TO PAY FOR ECO-CERTIFIED WOOD PRODUCTS

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 1600 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 $29 shelf, a$200 chair, and a $800 table) we find the estimated market premiums to be 12.9%, 8.5%, and 2.8%, respectively.Consumer/Household Economics,