Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha

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Wine is a multi-attribute product and one of great differentiation. Consumers do not know wines’ intrinsic properties before its purchase; consumers need and look for extrinsic signals that allow them to infer those intrinsic properties. To evaluate those intrinsic wine properties, the article uses...

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Detalles Bibliográficos
Autores principales:	Castillo-Valero, Sebastián, Villanueva, Emiliano C., García-Cortijo, M. Carmen
Formato:	article Artículo publishedVersion
Lenguaje:	Inglés
Publicado:	Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias 2018
Materias:	Precio diferencial Vinos Castilla-La Mancha (España) Denominación de origen Mercadotecnia Unión Europea Venta por Internet Hedonic model Wine of Castile Attributes Experts On-line sales Spanish wine market Price premium Modelo hedónico Tiendas en línea Modelo de precios hedónicos Mercado del vino español
Acceso en línea:	http://bdigital.uncu.edu.ar/12004
Aporte de:	Biblioteca Digital de Universidad Nacional de Cuyo

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record_format	dspace
institution	Universidad Nacional de Cuyo
institution_str	I-11
repository_str	R-8
collection	Biblioteca Digital
language	Inglés
orig_language_str_mv	eng
topic	Precio diferencial Vinos Castilla-La Mancha (España) Denominación de origen Mercadotecnia Unión Europea Venta por Internet Hedonic model Wine of Castile Attributes Experts On-line sales Spanish wine market Price premium Modelo hedónico Tiendas en línea Modelo de precios hedónicos Mercado del vino español
spellingShingle	Precio diferencial Vinos Castilla-La Mancha (España) Denominación de origen Mercadotecnia Unión Europea Venta por Internet Hedonic model Wine of Castile Attributes Experts On-line sales Spanish wine market Price premium Modelo hedónico Tiendas en línea Modelo de precios hedónicos Mercado del vino español Castillo-Valero, Sebastián Villanueva, Emiliano C. García-Cortijo, M. Carmen Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
topic_facet	Precio diferencial Vinos Castilla-La Mancha (España) Denominación de origen Mercadotecnia Unión Europea Venta por Internet Hedonic model Wine of Castile Attributes Experts On-line sales Spanish wine market Price premium Modelo hedónico Tiendas en línea Modelo de precios hedónicos Mercado del vino español
description	Wine is a multi-attribute product and one of great differentiation. Consumers do not know wines’ intrinsic properties before its purchase; consumers need and look for extrinsic signals that allow them to infer those intrinsic properties. To evaluate those intrinsic wine properties, the article uses price as an extrinsic signal to express their value. The price used is a comparison between the prices suggested by the specialized guides and the ones proposed directly to the consumer at the on-line stores. With the hedonic price methodology, which relates price and attributes, the article shows the convergence between the value referenced (price) by the Spanish experts and the one paid (price) in the Spanish market, the former being independent of the interests of the economic agents and the latter not. Regional reputation is the only attribute that positively impacts the price of Castilian wine and is prioritized in the ranking of attributes.
format	article Artículo Artículo publishedVersion
author	Castillo-Valero, Sebastián Villanueva, Emiliano C. García-Cortijo, M. Carmen
author_facet	Castillo-Valero, Sebastián Villanueva, Emiliano C. García-Cortijo, M. Carmen
author_sort	Castillo-Valero, Sebastián
title	Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
title_short	Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
title_full	Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
title_fullStr	Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
title_full_unstemmed	Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
title_sort	regional reputation as the price premium : estimation of a hedonic model for the wines of castile-la mancha
publisher	Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias
publishDate	2018
url	http://bdigital.uncu.edu.ar/12004
work_keys_str_mv	AT castillovalerosebastian regionalreputationasthepricepremiumestimationofahedonicmodelforthewinesofcastilelamancha AT villanuevaemilianoc regionalreputationasthepricepremiumestimationofahedonicmodelforthewinesofcastilelamancha AT garciacortijomcarmen regionalreputationasthepricepremiumestimationofahedonicmodelforthewinesofcastilelamancha AT castillovalerosebastian lareputacionregionalcomoeldiferencialdeprecioestimaciondeunmodelohedonicodepreciosparalosvinosdecastillalamancha AT villanuevaemilianoc lareputacionregionalcomoeldiferencialdeprecioestimaciondeunmodelohedonicodepreciosparalosvinosdecastillalamancha AT garciacortijomcarmen lareputacionregionalcomoeldiferencialdeprecioestimaciondeunmodelohedonicodepreciosparalosvinosdecastillalamancha
bdutipo_str	Repositorios
_version_	1764820402644713473

Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha

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