IDEAS home Printed from https://ideas.repec.org/a/ags/jlaare/302456.html
   My bibliography  Save this article

Hedonic Functions, Heterogeneous Consumers, and Wine Market Segmentation

Author

Listed:
  • Caracciolo, Francesco
  • Furno, Marilena

Abstract

This study extends the classical hedonic price model by taking advantage of the heterogeneity of consumer preferences and testing the existence of different price functions. A finite mixture model identifies consumer segments in the Italian wine market and estimates the hedonic functions within each group. The analysis is extended beyond the mean to the tails of the distribution for each group via quantile regressions. The analysis in classes proves to be more efficient both on average and at the quantiles and presents a more accurate wine market segmentation, unveiling sources of heterogeneity and asymmetry.

Suggested Citation

  • Caracciolo, Francesco & Furno, Marilena, 2020. "Hedonic Functions, Heterogeneous Consumers, and Wine Market Segmentation," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 45(2), March.
    • Handle: RePEc:ags:jlaare:302456
    DOI: 10.22004/ag.econ.302456
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/302456/files/JARE%2C45.2%2CMay2020_8%2CCaracciolo%2C299-316.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.302456?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Oczkowski, Edward, 2022. "Estimating Supply Functions for Wine Attributes: A Two-Stage Hedonic Approach," Journal of Wine Economics, Cambridge University Press, vol. 17(1), pages 1-26, February.
    2. Castriota, Stefano & Corsi, Stefano & Frumento, Paolo Dyno & Ruggeri, Giordano, 2021. "Does quality pay off? “Superstar” wines and the uncertain price premium across quality grades," Working Papers 321846, American Association of Wine Economists.
    3. Nicola Casolani & Andrea Ciccarelli & Maria Angela Perito & Emilio Chiodo, 2024. "The Importance of Region of Origin in Sparkling Wines: An International Analysis of Consumers’ Perception," Sustainability, MDPI, vol. 16(1), pages 1-16, January.
    4. Roberts, Shane & Brooks, Kathleen & Nogueira, Lia & Walters, Cory G., 2022. "The role of quality characteristics in pricing hard red winter wheat," Food Policy, Elsevier, vol. 108(C).

    More about this item

    Keywords

    Demand and Price Analysis;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:jlaare:302456. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/waeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.