Consumer sorting and hedonic valuation of wine attributes: exploiting data from a field experiment
Consumer sorting and hedonic valuation of wine attributes: exploiting data from a field experiment
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DOI：
10.1111/agec.12212
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发表时间：
2016-01-01
影响因子：
4.1
通讯作者：
Sumner, Daniel A.
中科院分区：
文献类型：
--
作者：
Gustafson, Christopher R.;Lybbert, Travis J.;Sumner, Daniel A.
本文采用一种新的实验方法来衡量消费者对葡萄酒属性的支付意愿。我们邀请当地一家超市的顾客参加一个估价实验，他们选择了一瓶葡萄酒来购买。将他们最初的葡萄酒选择整合到实验中，每个参与者评估了六种替代葡萄酒，产生了一组关于支付意愿和消费者特征的丰富数据。从实验中获得的数据使我们能够比较标准的货架价格为基础的葡萄酒属性估值估计使用支付意愿数据和越来越多的个人消费者的信息。完整的模型采用个人固定效应来估计支付意愿参数，而不会受到消费者分类或供应方影响的影响。我们对葡萄酒属性的WTP估计与以前的属性值估计明显不同。在我们的样本中，消费者对葡萄酒品种表现出明确而稳定的偏好，但对产区的偏好不太明确。我们的研究结果表明，在使用市场价格来估计产品属性的消费者价值函数的参数时需要谨慎。
This article uses a novel experimental approach to measure consumer willingness to pay (WTP) for wine attributes. We invited customers of a local supermarket who had selected a bottle of wine to purchase to participate in a valuation experiment. Integrating their original wine choice into the experiment, each participant evaluated six alternative wines, generating a rich set of data on willingness to pay and consumer characteristics. The data from the experiment allow us to compare standard shelf price-based wine attribute valuation estimates with estimates using WTP data and an increasing amount of information about individual consumers. The full model employs individual fixed effects to estimate WTP parameters without bias from consumer sorting or supply side influences. Our WTP estimates for wine attributes differ markedly from previous attribute value estimates. Consumers in our sample display clear and stable preferences for wine varieties, but less clear preferences for appellations. Our results suggest caution is needed in using market prices to estimate parameters of the consumer valuation function for product attributes.