The impact of information on environmental commodity valuation decisions

    Collection:
    Agricultural Communications Documentation Center (ACDC)
    Contributers:
    Bergstrom, John C. (author), Randall, Alan (author), Stoll, John R. (author), and Bergstrom: Department of Agricultural Economics, University of Georgia; Stoll: Department of Agricultural Economics, Texas A&M University; Randall: Department of Agricultural Economics and Rural Sociology, The Ohio State University
    Format:
    Journal article
    Publication Date:
    1990-08
    Published:
    USA: Ames, IA : American Agricultural Economics Association.
    Location:
    Agricultural Communications Documentation Center, Funk Library, University of Illinois Box: 92 Document Number: C06814
    Journal Title:
    American Journal of Agricultural Economics
    Journal Title Details:
    72 (3) : 614-621
    Subject Term:
    case studies, conservation, consumer information, decision making, economic information, economics of information, environment, environmental quality, Louisiana, USA, models, and theory
    Notes:
    AGRICOLA IND 90050733, A conceptual model is developed which provides insight into how information affects willingness to pay for environmental commodities. A refutable hypothesis of the effects of a specific information type on the magnitude of willingness to pay for an environmental commodity is developed. This hypothesis is tested using a contingent valuation method experiment. Results indicate that information affects willingness to pay in a theoretically plausible manner. The results support the contention that information is important for accurate environmental commodity consumer valuations.

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