The Theoretical Structure of Producer Willingness to Pay Estimates

This paper analyzes the theoretical underpinnings of producers’ willingness to pay (WTP) for novel inputs. In addition to conceptualizing the WTP function for producers, we derive its comparative statics and demonstrate the use of these properties to estimate input quantities demanded, outputs supplied, and price elasticities. We also discuss implications of the comparative statics results for the specification of empirical producer WTP models and survey design.

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Year of publication:	2012
Authors:	Zapata, Samuel D. ; Carpio, Carlos E.
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Cobb-Douglas production function \| contingent valuation \| price elasticities \| new technologies \| survey design. \| Agribusiness \| Demand and Price Analysis \| Environmental Economics and Policy \| Production Economics

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Extent:	application/pdf
Series:	2012 Annual Meeting, August 12-14, 2012, Seattle, Washington.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington Number 123434
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010881068