6533b85ffe1ef96bd12c1158
RESEARCH PRODUCT
What to show on the wine labels: a hedonic analysis of price drivers of Sicilian wines
Giuseppe Di MartinoGiovanni PerronePaolo Romasubject
VintageWineEconomics and Econometricshedonic priceexperience goodlabellingHedonic indexEconometric analysisSettore ING-IND/35 - Ingegneria Economico-Gestionalelanguage.human_languagewine industryEconometricslanguageEconomicsPrice formationProduction (economics)econometric analysiMarketingSicilianWine industrydescription
Unlike previous literature, we construct a hedonic model of wine price that incorporates all the main categories of variables simultaneously to enable a better evaluation of their importance on wine price formation. A comprehensive model has the advantage of providing more reliable estimates of the attributes' implicit prices thereby facilitating firms' pricing and improving effectiveness of wine production and marketing decisions. We utilize two different datasets of Sicilian wines collecting data from influential wine guides. Our results suggest that wine price strongly depends on objective features such as vintage, alcoholic content, geographical origin, grape variety, producer size and cellaring potential. In addition, use of containers like tonneaux and barrique positively affects prices, whereas use of concrete containers has a negative influence. No univocal indications emerge with regard to the effect of the type of company, type of viticulture and firm age. As for sensorial characteristics, our a...
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2013-07-01 |