ABSTRACT

Survey data from cotton farmers in six southeastern states are used to estimate the willingness-to-pay (WTP) for either retrofitting yield monitors onto cotton pickers or to purchase a yield monitor as an option with a new cotton picker. “Don’t Know” responses were either omitted, included as “No” responses, or treated as a separate response in order to compare WTP and price elasticity of demand estimates. Responses to bid price changes, although statistically significant, are very small, indicating a relatively inelastic demand for cotton yield monitors. The low elasticity estimates indicate that factors other than price must be the focus of efforts to increase demand.