Food Market Value Analysis: Product Quality Improvement, Product Origin Protection and Timing Decisions in Apple Market
In an effective quality enhancement programme of fruit production and marketing, total quality firms must include consideration of those attributes that are important to customers. In this study the hedonic model is adopted, in order to examine the effects of product quality, region of origin and time of product availability on the price structure determination in the apple market in Greece. Results suggest increased marginal shadow values (customers' interest) for physical product quality and for product origin Â– particularly in the case of Volos region. There is no evidence that out-of-season time is an important factor determining product prices. Further, it is also shown that it is possible to use the hedonic analysis for the estimation of shadow value for some sales quality characteristics other than the physical ones.
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- Brown, James N & Rosen, Harvey S, 1982.
"On the Estimation of Structural Hedonic Price Models,"
Econometric Society, vol. 50(3), pages 765-68, May.
- James N. Brown & Harvey S. Rosen, 1982. "On the Estimation of Structural Hedonic Price Models," NBER Technical Working Papers 0018, National Bureau of Economic Research, Inc.
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November.
- A. Golan & H. Shalit, 1993. "Wine Quality Differentials In Hedonic Grape Pricing," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(2), pages 311-321.
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