Full Citation

Title: Product differentiation and the relative importance of wine attributes: U.S. retail prices

Citation Type: Journal Article

Publication Year: 2022

ISBN:

ISSN: 1931-4361

DOI: 10.1017/JWE.2022.23

NSFID:

PMCID:

PMID:

Abstract: This paper investigates the relative importance of various attributes, including varietal, brands, and geographic origin, in explaining retail wine prices for the United States market. We use a metric based on the Shapely value, from cooperative game theory, in the context of an empirical hedonic price equation estimated using a large sample of retail wine sales for home consumption over the period 2007–2019. We find that brands alone explain more than 70% of the variation in wine prices, but geographic origin and varietals retain additional explanatory power. Furthermore, information about the geographic origin appears to be a considerably more important attribute than varietals.

Url: https://www.cambridge.org/core/journals/journal-of-wine-economics/article/product-differentiation-and-the-relative-importance-of-wine-attributes-us-retail-prices/DABE9F070D06A7949817DC1767BB7CAE

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Authors: Chandra, Raj; Moschini, GianCarlo

Periodical (Full): Journal of Wine Economics

Issue:

Volume: 17

Pages: 177-208

Data Collections: IPUMS USA, IPUMS NHGIS

Topics: Natural Resource Management

Countries: