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CC BY V4.0, Open Access
Journal article
Consumer Preferences and Willingness to Pay for Potting Mix with Biochar
Energies (Basel), Vol.14(12), p.3432
06/10/2021
Handle:
https://hdl.handle.net/2376/122227
Appears in Aviation Sustainability Center (ASCENT)
Abstract
Biochar is a co-product of advanced biofuels production from feedstocks including food, agricultural, wood wastes, or dedicated energy crops. Markets for soil amendments using biochar are emerging, but little is known about consumer preferences and willingness to pay (WTP) for these products or the depth of the products’ market potential for this product. This research provides WTP estimates for potting mix amended with 25% biochar, conditioned on consumer demographics and attitudes about product information labeling. Data were collected with an online survey of 577 Tennessee home gardeners. WTP was elicited through a referendum contingent valuation. Consumer WTP for an 8.81 L bag of 25% biochar potting mix is $8.52; a premium of $3.53 over conventional potting mix. Demographics and attitudes toward biofuels and the environment influence WTP. Biochar amounts demanded are projected for the study area’s potential market. Optimal prices, profits, and market shares are estimated across different marginal costs of producing biochar potting mix.
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Details
- Title
- Consumer Preferences and Willingness to Pay for Potting Mix with Biochar
- Creators
- McKenzie ThomasKimberly L Jensen - Washington State University, UNKNOWNDayton M LambertBurton C EnglishChristopher D ClarkForbes R Walker
- Publication Details
- Energies (Basel), Vol.14(12), p.3432
- Academic Unit
- Aviation Sustainability Center (ASCENT); Alternative Jet Fuel
- Identifiers
- 99900620474601842
- Language
- English
- Resource Type
- Journal article