Willingness to Pay for Potting Mix Containing Eastern Redcedar Biochar under Alternative Information Sets

Abstract

Biochar is considered an environmentally friendly potting mix ingredient because it sequesters carbon, and its biomass can be obtained from renewable resources. If the biomass is obtained from the undesirable eastern redcedar (Juniperus virginiana), then it has the additional benefit of helping to curtail its spread and protect natural habitats. If consumers recognize this benefit, then they may be willing to pay a premium for potting mix made from eastern redcedar biochar. This study used an internet survey of potting mix customers to measure the size of this potential premium. The results showed that consumers were willing to pay $2.42/ft3 more for potting mix containing 20% eastern redcedar biochar (by weight). This premium was even larger for respondents who were aware of the weedy nature of eastern redcedar.