Consumer Preferences and Willingness to Pay for Potting Mix with Biochar
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...
| Main Authors: | , , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2021-06-01
|
| Series: | Energies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1996-1073/14/12/3432 |
| _version_ | 1797530639313928192 |
|---|---|
| author | McKenzie Thomas Kimberly L. Jensen Dayton M. Lambert Burton C. English Christopher D. Clark Forbes R. Walker |
| author_facet | McKenzie Thomas Kimberly L. Jensen Dayton M. Lambert Burton C. English Christopher D. Clark Forbes R. Walker |
| author_sort | McKenzie Thomas |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-10T10:31:51Z |
| format | Article |
| id | doaj.art-06b7f1fed0394638bedd86b2dc0308b5 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T10:31:51Z |
| publishDate | 2021-06-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-06b7f1fed0394638bedd86b2dc0308b52023-11-21T23:33:41ZengMDPI AGEnergies1996-10732021-06-011412343210.3390/en14123432Consumer Preferences and Willingness to Pay for Potting Mix with BiocharMcKenzie Thomas0Kimberly L. Jensen1Dayton M. Lambert2Burton C. English3Christopher D. Clark4Forbes R. Walker5Department of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USADepartment of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USADepartment of Agricultural Economics, Oklahoma State University, Stillwater, OK 74078, USADepartment of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USADepartment of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USADepartment of Biosystems Engineering and Soil Sciences, The University of Tennessee, Knoxville, TN 37996, USABiochar 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.https://www.mdpi.com/1996-1073/14/12/3432biocharconsumer preferencespotting mixbiofuelsfeedstock |
| spellingShingle | McKenzie Thomas Kimberly L. Jensen Dayton M. Lambert Burton C. English Christopher D. Clark Forbes R. Walker Consumer Preferences and Willingness to Pay for Potting Mix with Biochar Energies biochar consumer preferences potting mix biofuels feedstock |
| title | Consumer Preferences and Willingness to Pay for Potting Mix with Biochar |
| title_full | Consumer Preferences and Willingness to Pay for Potting Mix with Biochar |
| title_fullStr | Consumer Preferences and Willingness to Pay for Potting Mix with Biochar |
| title_full_unstemmed | Consumer Preferences and Willingness to Pay for Potting Mix with Biochar |
| title_short | Consumer Preferences and Willingness to Pay for Potting Mix with Biochar |
| title_sort | consumer preferences and willingness to pay for potting mix with biochar |
| topic | biochar consumer preferences potting mix biofuels feedstock |
| url | https://www.mdpi.com/1996-1073/14/12/3432 |
| work_keys_str_mv | AT mckenziethomas consumerpreferencesandwillingnesstopayforpottingmixwithbiochar AT kimberlyljensen consumerpreferencesandwillingnesstopayforpottingmixwithbiochar AT daytonmlambert consumerpreferencesandwillingnesstopayforpottingmixwithbiochar AT burtoncenglish consumerpreferencesandwillingnesstopayforpottingmixwithbiochar AT christopherdclark consumerpreferencesandwillingnesstopayforpottingmixwithbiochar AT forbesrwalker consumerpreferencesandwillingnesstopayforpottingmixwithbiochar |