The world is attempting to become more sustainable while at the same time enhance economic and social wellbeing. Part of this movement is the support of consumer interest in small local farms. Through a contingent valuation we see that Virginia consumers are willing to pay an average premium of about 20% for in-state produce and animal products. Results show that 58% of Virginia consumers are willing to purchase in-state produce and 59% are willing to purchase in-state animal products at the 20% premium. Consumers are willing to pay more for local goods depending on certain demographics and personal preferences. Premiums for local products are subjective to gender, age, income, residential location, certain perceptions of local products, and other important factors. Our findings from analyzing these variables show that farming locally can be beneficial for the consumers, producers, local economy, and the environment.
Bachelor of Arts
Includes bibliographical references.