Search results for "Hedonic price model"
showing 2 items of 2 documents
THE PREMIUM PRICE FOR ITALIAN RED WINE QUALITY ATTRIBUTES IN THE JAPANESE MARKET
2015
In this paper we apply the hedonic price model in order to estimate implicit price for the main objective characteristics appearing on the label of Italian wines sold in Japan, easier to identify than sensory attributes by consumers. In this paper, the wine searcher dataset has been used in order to select the retailer price and the research score for 829 wines, for each of which we have observed information about their geographical origin, vintage, grape varieties, vintage, and the alcohol degree. Our results indicate that international grape varieties, alcohol content and the year of production explain the major part of price difference. On the other hand, the origin appellations linked t…
Italian red wine in the Japanese market: a hedonic price analysis
2017
This study applies the hedonic pricing model to examine important objective attributes appearing on the label of Italian wines influencing average customer wine prices in Japan. Data on 829 red Italian wines sold in the Japanese market were collected through the wine searcher dataset, and the information included on the wine labels, useful for assisting in the selection and appreciation of wines, has been included. A log-linear model was esteemed and the proposed hedonic equation accounted for 43.5% of the variation in wine prices. The results indicate that international grape varieties, alcohol content and the year of production explain most of the price difference. On the other hand, the …