Determinants of willingness-to-pay for sustainable wine: Evidence from experimental auctions
By R. Vecchio. 2013
136 citations recorded by the source corpus.
The current paper explored young adult wine drinkers' willingness to pay (WTP) for three sustainable wines through Vickrey fifth-price full bidding auctions. In order to investigate factors affecting WTP the study compared the bid functions estimated with Tobit models and the premium functions estimated with ordinary least squares (OLS). The econometric results reveal that female and older respondents tend to bid higher for sustainable wines. Moreover, knowledge of specific claims increased price premiums. Our findings have significant marketing and policy implications for the promotion of sustainable wines among young adults.
Subfields: Economics and Econometrics, Plant Science, Tourism, Leisure and Hospitality Management
View Paper: https://www.semanticscholar.org/paper/115317c6dbda848aaf96d1fe1e3459d81f3a3b35
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In Economics and Econometrics
In Plant Science
In Tourism, Leisure and Hospitality Management
Citations in the corpus
- Organic wine purchase behaviour in Germany: Exploring the attitude-behaviour-gap with data from a household panel (2018, unknown): “…Martinez-Carrasco, Bernabéu, &Martinez-Poveda, 2010; Pagliarini, Laureati, & Gaeta, 2013; Wiedmann, Hennigs, Behrens, & Klarmann, 2014), sustainable wine (Forbes & DeSilva, 2012; Sellers, 2016; Vecchio, 2013) and local wine (Ay et al., 2014; Bernabéu et al., 2008; Grebitus, Lusk, & Nayga, 2013).”
- Millennial Generation and Environmental Sustainability: The Role of Social Media in the Consumer Purchasing Behavior for Wine (2017, background): “asymmetry between producers and consumers and help to make informed purchase decisions [3,14].”
- Estimating the willingness to pay for a sustainable wine using a Heckit model (2016, background): “Vecchio (2013) explore young adult wine drinkers' willingness to pay (WTP) for three sustainable wines.”
- Consumer stated preferences for dairy products with carbon footprint labels in Italy (2020, background): “…Loo et al. 2014 Chicken breast Belgium DCE Premium price of 18% and 24% respectively for the 20% and 30% CO2reduction, for the low-income group Van Loo et al. 2015 Coffee Northwest Arkansas CE No significant premium price for the Carbon Footprint label Vecchio 2013 Wine Italy EA Avg.”