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Hedonic Price of Wine at Retail Market in Costa Rica

Author

Listed:
  • Thompson, Johanna Solórzano
  • Molina, Javier Paniagua
  • Brenes, Rebeca Castro
  • Valerio, Wilson Muñoz
  • Jiménez, Sebastián Núñez
  • Ramírez, Carlos Sequeira
  • Murillo, Luana Vindas
  • Navarro, David Barboza

Abstract

In Costa Rica, the consumption of wine has increased as an increasingly frequent beverage option during meals and celebrations, it has also been consolidated as part of a gastronomic culture that, in addition to enjoyment, is considered to have high properties for the health when consumed in moderate amounts. Due to the growth of the local wine market and changes in preferences, as well as the need to generate information in this field, this research aims to determine the attributes that influence the retail price of wine in Costa Rica. An econometric approach was used to model hedonic price behavior. The results showed that the price of wine is significantly affected by attributes such as origin, packaging characteristics, type of grape, market segment and type of supermarket where it is purchased

Suggested Citation

  • Thompson, Johanna Solórzano & Molina, Javier Paniagua & Brenes, Rebeca Castro & Valerio, Wilson Muñoz & Jiménez, Sebastián Núñez & Ramírez, Carlos Sequeira & Murillo, Luana Vindas & Navarro, David Bar, 2022. "Hedonic Price of Wine at Retail Market in Costa Rica," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 6(1), April.
    • Handle: RePEc:ags:ijfaec:321780
    DOI: 10.22004/ag.econ.321780
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    References listed on IDEAS

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    1. Sanja Lutzeyer, 2008. "Estimating Hedonic Prices for Stellenbosch wine," Working Papers 15/2008, Stellenbosch University, Department of Economics.
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