Biblioteca Digital de VanguardiaRegional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha
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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| Formato: | Artículo |
| Lenguaje: | Inglés |
| Publicado: |
Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias
2018
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| Acceso en línea: | http://bdigital.uncu.edu.ar/12004 |
| _version_ | 1782342623489425408 |
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| 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 |
| collection | Repositorio |
| 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 | Artículo |
| id | uncu-12004 |
| institution | Biblioteca Digital - UNCUYO |
| language | Inglés |
| publishDate | 2018 |
| publisher | Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias
|
| record_format | ojs |
| spelling | uncu-120042019-04-29T18:08:12Z Regional reputation as the price premium : estimation of a hedonic model for the wines of Castile-La Mancha La reputación regional como el diferencial de precio : estimación de un modelo hedónico de precios para los vinos de Castilla-La Mancha Castillo-Valero, Sebastián Villanueva, Emiliano C. García-Cortijo, M. Carmen 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 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. El vino es un producto de atributos múltiples y de gran diferenciación. Los consumidores no conocen las propiedades intrínsecas de los vinos antes de su compra; los consumidores necesitan y buscan señales extrínsecas que les permitan inferir esas propiedades intrínsecas. Para evaluar esas propiedades intrínsecas del vino, este artículo usa el precio como una señal extrínseca para expresar su valor. El precio utilizado es una comparación entre los precios sugeridos por las guías especializadas y los que se proponen directamente al consumidor en las tiendas en línea. Con la metodología de precios hedónicos, que relaciona precios y atributos, este artículo muestra la convergencia entre el valor referenciado (precio) por los expertos españoles y el valor pagado (precio) en el mercado español, siendo el primero independiente de los intereses de los agentes económicos y el último no. La reputación regional es el único atributo que impacta positivamente en el precio del vino castellano y se prioriza en el ranking de atributos al momento de compra. Fil: Castillo-Valero, Sebastián. Universidad de Castilla-La Mancha Fil: Villanueva, Emiliano C.. Eastern Connecticut State University Fil: García-Cortijo, M. Carmen. Universidad de Castilla-La Mancha Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias 78 Revista de la Facultad de Ciencias Agrarias Vol. 50, no. 2 Revista de la Facultad de Ciencias Agrarias, Vol. 50, no. 2 2018-12-18 eng Inglés http://bdigital.uncu.edu.ar/11479 info:eu-repo/semantics/openAccess http://creativecommons.org/licenses/by/2.5/ar/ article info:ar-repo/semantics/artículo info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf Universidad Nacional de Cuyo. Facultad de Ciencias Agrarias http://bdigital.uncu.edu.ar/12004 |
| 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 |
| title | 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_short | 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 |
| 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 |
| url | http://bdigital.uncu.edu.ar/12004 |