We investigated how differences in the consideration of future consequences (CFC) influence consumers' willingness to pay for edible and ornamental plants using data from plant auction experiments conducted in the U.S. and Canada. Specifically, the study focused on individuals' preferences for plant attributes related to production method, container type, and product origin. Individuals assigning higher importance to future consequences of their current decisions were willing to pay a price premium for plants grown using sustainable (16.7 cents) and energy-saving (16.5 cents) production methods, non-conventional containers such as compostable (18.2 cents) and plantable (14.3 cents), and locally produced plants (15.3 cents), and they expected a discount (37.8 cents) to purchase imported plants (i.e., produced outside the U.S.). In contrast, individuals assigning higher importance to immediate outcomes of their decisions were not willing to pay a price premium for the above mentioned attributes, with the exception of water-saving and compostable ones. The results contribute to our understanding of the effects of temporal considerations on choice decision making by horticultural consumers, and provide horticultural marketers with an opportunity to effectively position products that provide long- or short-term benefits.
Consideration of future consequences as a moderator of the willingness-behavior relationship for young adult marijuana use and consequences