IDEAS home Printed from https://ideas.repec.org/a/tkp/ijsrsy/v3y2014i1p67-77.html
   My bibliography  Save this article

Willingness to Pay for Green Products vs Ecological Value System

Author

Listed:
  • Agnieszka Leszczynska

    (Maria Curie Sk³odowska University, Poland)

Abstract

Environmental concern has been an important issue for a few decades and the extent of consumer demand for eco-friendly consumption has increased. The article presents research results concerning the willingness to pay (WTP) for selected green products, defined by the auction method. Moreover, the paper presents the interrelations between the perceived benefits, individual value system and the WTP. Purpose – The aim of research is evaluation of willingness to pay (WTP) for green products, assessment of the interrelations between willingness and the individual values, perceived benefits. Design/methodology – The experiment in a form of the auction was carried out in order to assess the current WTP. Three non-eco-friendly products and their ecological equivalents were chosen. The auction was carried out among 20 persons. For evaluation of perceived benefits and individual system of values a questionnaire form was used. Findings – Not eco-friendly products were evaluated slightly higher than their real (market) value. Green products were evaluated below their market value. Considering a system of values, the self-enhancement values are mostly interrelated with the perceived environmental benefits and product functionality. In the group of people with dominating self-transcendence values a connection exists between the purchase of green products and perceived individual benefits. Research implications – Results can constitute a starting point for the research on the influence of a value system on purchase decisions of green products. Practical implications – Results can be used for establishing process of green products, and making plans for their marketing campaigns. Social implications – Results increase the knowledge about the perception and the reception of green products by clients with different systems of values. Originality/value – The article complements former research through combining the factors such as perceived benefits from using green products, user’s individual value system, and environmental effects of product production with the WTP.

Suggested Citation

  • Agnieszka Leszczynska, 2014. "Willingness to Pay for Green Products vs Ecological Value System," International Journal of Synergy and Research, ToKnowPress, vol. 3(1), pages 67-77.
    • Handle: RePEc:tkp:ijsrsy:v:3:y:2014:i:1:p:67-77
    as

    Download full text from publisher

    File URL: http://www.toknowpress.net/ISSN/2083-0025/334-576-1-SM.pdf
    File Function: full text in English
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bazoche, P. & Deola, C. & Soler, Louis-Georges, 2008. "An experimental study of wine consumers’ willingness to pay for environmental characteristics," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43651, European Association of Agricultural Economists.
    2. Michael Creel, 2008. "Estimation of Dynamic Latent Variable Models Using Simulated Nonparametric Moments," UFAE and IAE Working Papers 725.08, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC), revised 02 Jun 2008.
    3. Katrin, Millock & Hansen, Lars Gårn, 2002. "Willingness to Pay for Organic Foods: A Comparison between Survey Data and Panel Data from Denmark," MPRA Paper 47588, University Library of Munich, Germany.
    4. Webster, Frederick E, Jr, 1975. "Determining the Characteristics of the Socially Conscious Consumer," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 2(3), pages 188-196, December.
    5. Michael Creel & Dennis Kristensen, 2012. "Estimation of dynamic latent variable models using simulated non‐parametric moments," Econometrics Journal, Royal Economic Society, vol. 15(3), pages 490-515, October.
    6. Jayson L. Lusk & Darren Hudson, 2004. "Willingness-to-Pay Estimates and Their Relevance to Agribusiness Decision Making," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(2), pages 152-169.
    7. Franziska Voelckner, 2006. "An empirical comparison of methods for measuring consumers’ willingness to pay," Marketing Letters, Springer, vol. 17(2), pages 137-149, April.
    8. Gil, Jose Maria & Gracia, Azucena & Sanchez Garcia, Mercedes, 2000. "Market Segmentation And Willingness To Pay For Organic Products In Spain," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 3(2), pages 1-20.
    9. Roberts, James A., 1996. "Green Consumers in the 1990s: Profile and Implications for Advertising," Journal of Business Research, Elsevier, vol. 36(3), pages 217-231, July.
    10. Kilbourne, William & Grünhagen, Marko & Foley, Janice, 2005. "A cross-cultural examination of the relationship between materialism and individual values," Journal of Economic Psychology, Elsevier, vol. 26(5), pages 624-641, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kucher Anatolii & Heldak Maria & Kucher Lesia & Fedorchenko Olha & Yurchenko Yuliia, 2019. "Consumer willingness to pay a price premium for ecological goods: a case study from Ukraine," Environmental & Socio-economic Studies, Sciendo, vol. 7(1), pages 38-49, March.
    2. Alvino, Letizia & Dangelico, Rosa Maria, 2022. "Investigating the antecedents of consumer behavioral intention for sustainable fashion products: Evidence from a large survey of Italian consumers," Other publications TiSEM ed6b6a75-2a9f-4b6e-8076-9, Tilburg University, School of Economics and Management.
    3. Anatolii Kucher & Maria Hełdak & Lesia Kucher & Beata Raszka, 2019. "Factors Forming the Consumers’ Willingness to Pay a Price Premium for Ecological Goods in Ukraine," IJERPH, MDPI, vol. 16(5), pages 1-14, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Erifili Papista & Athanasios Krystallis, 2013. "Investigating the Types of Value and Cost of Green Brands: Proposition of a Conceptual Framework," Journal of Business Ethics, Springer, vol. 115(1), pages 75-92, June.
    2. Hans Ruediger Kaufmann & Mohammad Fateh Ali Khan Panni & Yianna Orphanidou, 2012. "Factors Affecting Consumers’ Green Purchasing Behavior: An Integrated Conceptual Framework," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(31), pages 50-69, February.
    3. Gonçalves, Helena Martins & Lourenço, Tiago Ferreira & Silva, Graça Miranda, 2016. "Green buying behavior and the theory of consumption values: A fuzzy-set approach," Journal of Business Research, Elsevier, vol. 69(4), pages 1484-1491.
    4. Waris, Idrees & Hameed, Irfan, 2019. "Using Extended Model of Theory of Planned Behavior to Predict Purchase Intention of Energy Efficient Home Appliances in Pakistan," MPRA Paper 109612, University Library of Munich, Germany.
    5. Paolo Antonetti & Stan Maklan, 2014. "Feelings that Make a Difference: How Guilt and Pride Convince Consumers of the Effectiveness of Sustainable Consumption Choices," Journal of Business Ethics, Springer, vol. 124(1), pages 117-134, September.
    6. Sidali, Katia Laura & Spiller, Achim & von Meyer-Hofer, Marie, 2016. "Consumer Expectations Regarding Sustainable Food: Insights from Developed and Emerging Markets," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 19(3), pages 1-30, August.
    7. Marco Lerro & Riccardo Vecchio & Francesco Caracciolo & Stefano Pascucci & Luigi Cembalo, 2018. "Consumers' heterogeneous preferences for corporate social responsibility in the food industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(6), pages 1050-1061, November.
    8. Nitika Sharma & Raiswa Saha & V. Raja Sreedharan & Justin Paul, 2020. "Relating the role of green self‐concepts and identity on green purchasing behaviour: An empirical analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3203-3219, December.
    9. Kristensen, Dennis & Salanié, Bernard, 2017. "Higher-order properties of approximate estimators," Journal of Econometrics, Elsevier, vol. 198(2), pages 189-208.
    10. Wintschnig, Bea Alexandra, 2021. "The Attitude-Behavior Gap – Drivers and Barriers of Sustainable Consumption," Junior Management Science (JUMS), Junior Management Science e. V., vol. 6(2), pages 324-346.
    11. Irina Cojuharenco & Gert Cornelissen & Natalia Karelaia, 2011. "One Person in the Battlefield is not a warrior: Self-Construal, Perceived Ability to Make a Difference, and Socially Responsible Behavior," Working Papers 589, Barcelona School of Economics.
    12. Andrés Nova-Reyes & Francisco Muñoz-Leiva & Teodoro Luque-Martínez, 2020. "The Tipping Point in the Status of Socially Responsible Consumer Behavior Research? A Bibliometric Analysis," Sustainability, MDPI, vol. 12(8), pages 1-23, April.
    13. Kristensen, Dennis & Shin, Yongseok, 2012. "Estimation of dynamic models with nonparametric simulated maximum likelihood," Journal of Econometrics, Elsevier, vol. 167(1), pages 76-94.
    14. Tierney, Heather L.R., 2009. "A Local Examination for Persistence in Exclusions-from-Core Measures of Inflation Using Real-Time Data," MPRA Paper 13383, University Library of Munich, Germany, revised 03 Feb 2009.
    15. Shehawy, Yasser Moustafa & Agag, Gomaa & Alamoudi, Hawazen O. & Alharthi, Majed D. & Brown, Abraham & Labben, Thouraya Gherissi & Abdelmoety, Ziad H., 2024. "Cross-national differences in consumers’ willingness to pay (WTP) more for green hotels," Journal of Retailing and Consumer Services, Elsevier, vol. 77(C).
    16. Michael Creel & Dennis Kristensen, "undated". "Indirect Likelihood Inference," Working Papers 558, Barcelona School of Economics.
    17. Moser, Riccarda & Raffaelli, Roberta & Thilmany, Dawn D., 2011. "Consumer Preferences for Fruit and Vegetables with Credence-Based Attributes: A Review," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 14(2), pages 1-22, May.
    18. So-Yun Kim & Jungsung Yeo & Sang Sohn & Jong-Youn Rha & Shinae Choi & A-young Choi & Suhyun Shin, 2012. "Toward a Composite Measure of Green Consumption: An Exploratory Study Using a Korean Sample," Journal of Family and Economic Issues, Springer, vol. 33(2), pages 199-214, June.
    19. Tierney, Heather L.R., 2009. "Evaluating Exclusion-from-Core Measures of Inflation using Real-Time Data," MPRA Paper 17856, University Library of Munich, Germany.
    20. Elena Kostadinova, 2016. "Sustainable Consumer Behavior: Literature Overview," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 224-234, June.

    More about this item

    Keywords

    willingness to pay; ecological product;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tkp:ijsrsy:v:3:y:2014:i:1:p:67-77. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Maks Jezovnik (email available below). General contact details of provider: http://www.toknowpress.net/journals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.