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A HEDONIC ANALYSIS OF THE EFFECT OF EXPERT WINE RATINGS ON PRICE AND RETAILER PROFITS

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Date Issued:
2011
Abstract/Description:
During the last few decades, economists have become interested in the wine industry and several of them have focused on the determinants of price. One characteristic that has been identified as an important determinant is expert wine ratings. Much of the previous research on this topic has focused on relating expert grades to the retail price of wine. Using proprietary data, this paper will test whether these grades influence retail prices as well as retailer profits and wholesale pricing. By analyzing an individual wholesale firm in South Florida and their distribution network, this paper determines the effect expert ratings have on these dependent variables. Empirical evidence confirms that expert ratings have a positive effect on wholesale and retail wine prices and that they exhibit a parallel influence on retailer profits. This thesis aims to contribute new information to aid both the end consumers purchasing decisions as well as busi-ness pricing strategies.
Title: A HEDONIC ANALYSIS OF THE EFFECT OF EXPERT WINE RATINGS ON PRICE AND RETAILER PROFITS.
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Name(s): Neill, Kaitlin, Author
Caputo, Michael, Committee Chair
University of Central Florida, Degree Grantor
Type of Resource: text
Date Issued: 2011
Publisher: University of Central Florida
Language(s): English
Abstract/Description: During the last few decades, economists have become interested in the wine industry and several of them have focused on the determinants of price. One characteristic that has been identified as an important determinant is expert wine ratings. Much of the previous research on this topic has focused on relating expert grades to the retail price of wine. Using proprietary data, this paper will test whether these grades influence retail prices as well as retailer profits and wholesale pricing. By analyzing an individual wholesale firm in South Florida and their distribution network, this paper determines the effect expert ratings have on these dependent variables. Empirical evidence confirms that expert ratings have a positive effect on wholesale and retail wine prices and that they exhibit a parallel influence on retailer profits. This thesis aims to contribute new information to aid both the end consumers purchasing decisions as well as busi-ness pricing strategies.
Identifier: CFH0004129 (IID), ucf:44879 (fedora)
Note(s): 2011-12-01
B.S.B.A.
Business Administration, Dept. of Economics
Bachelors
This record was generated from author submitted information.
Subject(s): wine prices
hedonic method
expert wine ratings
Persistent Link to This Record: http://purl.flvc.org/ucf/fd/CFH0004129
Restrictions on Access: public
Host Institution: UCF

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