Demographic Influences on Willingness to Pay for Cold Tolerance Technology?
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New technologies in agriculture have the potential to increase production levels, reduce
risk, and improve profits for farm operators. However, in order for this to take place the
technologies must appeal to producers, creating enough interest that they decide to invest
in them. Gauging the level of interest in a technology and the types of producers who
will be interested in trying it are important steps in technology development. Cereal
crops such as wheat are important to agriculture in Canada in terms of both acreage and
revenue. Researchers in Canada are currently attempting to develop more cold tolerant
cereal crops to reduce the risk of frost damage and increase the area available to produce
these crops. A producer survey including questions on past adoption behavior, attitudinal
characteristics, and demographics as well as a set of dichotomous choice questions on
new varieties was conducted and analyzed using a regression and willingness to pay
calculations. Demographics were the focus during these activities. It was determined
that producers from areas experiencing frost regularly with high incomes and large land
bases had a higher propensity to adopt and higher willingness to pay for this technology.