Price Heterogeneity and Vine Homogeneity: An Ordered Logit Hedonic Price Estimation

Eugenio Pomarici, Francesco Caracciolo and Luigi Cembalo ()

No 144957, 2012 International European Forum, February 13-17, 2012, Innsbruck-Igls, Austria from International European Forum on System Dynamics and Innovation in Food Networks

Abstract: Consumers face complex choices when they buy wine: wine is a highly differentiated product sold at prices that vary over a wide range. This paper aims to provide monetary valuation of some relevant credence attributes of the wine, such as certifications and quality ratings made by expert tasters. In order to value the latter, a hedonic price estimation was performed on a specific Italian grape variety (Aglianico). The implicit price of DOC-DOCG certification is of extreme importance. It gives access to a collective reputation and enables a premium price to be captured from consumers.

Keywords: Agribusiness; International Relations/Trade; Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 10
Date: 2012-09
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/144957/files/1 ... mbalo-caracciolo.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:iefi12:144957

DOI: 10.22004/ag.econ.144957

Access Statistics for this paper

More papers in 2012 International European Forum, February 13-17, 2012, Innsbruck-Igls, Austria from International European Forum on System Dynamics and Innovation in Food Networks Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().