ESTIMATING DEMAND FOR PRECISION TECHNOLOGY IN AN EMREGING MARKET:COTTON YIELD MONITORS IN THE SOUTHEASTERN UNITED STATES

摘要

Survey data from cotton farmers in six southeastern states are used to estimate the willingness-to-pay (WTP) for either retrofittingyield monitors onto cotton pickers or to purchase a yield monitor as an option with a new cotton picker. “Don’tKnow” responses were either omitted, included as “No” responses, or treated as a separate response in order to compareWTP and price elasticity of demand estimates. Responses to bid price changes, although statistically significant, are verysmall, indicating a relatively inelastic demand for cotton yield monitors. The low elasticity estimates indicate that factorsother than price must be the focus of efforts to increase demand.