Willingness to Pay for Improved Planting Materials: An Application of Experimental Auction in Sri Lanka

The adoption of new agricultural technology is a significant factor influencing the development of the agricultural sector, food security as well as the economic status of farm households regardless of developing or developed countries (Pasa, 2017; Channa et al., 2019). This technology encompasses not only machinery but also biotechnology and modern knowledge aimed at increasing agricultural productivity (Jain et al., 2009). The most remarkable achievement of these technologies is the substantial increase in production and productivity while reducing costs and boosting farmers' income.