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Determinantes del Precio del Vino en el Mercado Chileno: Un Estudio de Precios Hedónicos

Author

Listed:
  • Melo, Oscar
  • Buzeta, J.E.
  • Marshall, M.B.

Abstract

Hedonic prices have been widely used in wine research allowing price decomposition by attributes. In this market where products are highly differentiated the contribution of each attribute to price provides valuable information to make productive and marketing decisions to wineries. Using a significant sample of the Chilean wine market we estimated semi-logarithmic price-attribute models. Results found for alcoholic content, volume and age are in accordance to studies in other countries, albeit age presents a maximum contribution in less time. When make effects are included the impact of grapevine is less important. We also found that the more specific the labelling of the place of origin, the higher the price. We analyzed the strategies used by the wineries to differentiate quality and found that the ones shared by several companies tend to perform better than the ones used only by one brand.

Suggested Citation

  • Melo, Oscar & Buzeta, J.E. & Marshall, M.B., 2005. "Determinantes del Precio del Vino en el Mercado Chileno: Un Estudio de Precios Hedónicos," Economi­a Agraria (Revista Economia Agraria), Agrarian Economist Association (AEA), Chile, vol. 9, pages 1-23.
    • Handle: RePEc:ags:eaaeac:97349
    DOI: 10.22004/ag.econ.97349
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    Cited by:

    1. García Arancibia, Rodrigo & Rossini, Gustavo & Depetris Guiguet, Edith, 2015. "Wine Label Descriptors and Shelf Price Paid by Argentine Consumers," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 16(2), pages 1-17.

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