 (Dynamic) willingness to pay and e-commerce: Insights from sparkling wine sector in RussiaJournal of Retailing and Consumer Services, 2020, vol. 57, issue C Abstract: Although economic theory clearly provides reasons for a hedonic price function to change over time, this is not how it is traditionally approached empirically. For wine, which is one of the most widely used implications of hedonic price analysis, such time invariance can be traced down to the issues of data availability and price rigidity in the food and beverage sector. The development of e-commerce changes both these premises, providing reasons for more frequent price adjustments and making price data available at each point of time. Is willingness to pay for particular product attributes indeed time-invariant? In this paper, daily price quotes from the largest online grocery market in Russia are used to address this question using sparkling wines as an example. The results indicate that time invariance might be a rather strong empirical assumption, suggesting that the time dimension should be included into hedonic price studies whenever the data allows for it. Keywords: Consumer valuation; Hedonic price function; E-commerce; Dynamic willingness to pay (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:joreco:v:57:y:2020:i:c:s0969698919310665 DOI: 10.1016/j.jretconser.2020.102180 Access Statistics for this article Journal of Retailing and Consumer Services is currently edited by Harry Timmermans More articles in Journal of Retailing and Consumer Services from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.