Millennial university students’ valuation of traditional wine: Evidence from an experimental auction
This paper analyzes whether the perception of traditional wine brings value to millennials. Based on survey data and experimental auctions (165 participants), this study identifies the main factors affecting this consumer groups’ willingness to pay for traditional wine through a Tobit model methodol...
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| Format: | Article |
| Language: | English |
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Firenze University Press
2021-05-01
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| Series: | Wine Economics and Policy |
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| Online Access: | https://oaj.fupress.net/index.php/wep/article/view/9878 |
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| _version_ | 1849717024184336384 |
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| author | Elói Jorge Ernesto Lopez-Valeiras Maria Beatriz Gonzalez-Sanchez |
| author_facet | Elói Jorge Ernesto Lopez-Valeiras Maria Beatriz Gonzalez-Sanchez |
| author_sort | Elói Jorge |
| collection | DOAJ |
| description | This paper analyzes whether the perception of traditional wine brings value to millennials. Based on survey data and experimental auctions (165 participants), this study identifies the main factors affecting this consumer groups’ willingness to pay for traditional wine through a Tobit model methodology. The results suggest that millennials are willing to pay a higher price depending on demographic factors such as monthly disposable income, on wine involvement variables such as consumption frequency, and on nourishing and health aspects and product availability at points of sale, both of which are wine purchase decision criteria. The investigation has significant marketing and policy implications.
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| format | Article |
| id | doaj-art-a5bb283d6db04f1c80f285d5fb52344b |
| institution | DOAJ |
| issn | 2213-3968 2212-9774 |
| language | English |
| publishDate | 2021-05-01 |
| publisher | Firenze University Press |
| record_format | Article |
| series | Wine Economics and Policy |
| spelling | doaj-art-a5bb283d6db04f1c80f285d5fb52344b2025-08-20T03:12:47ZengFirenze University PressWine Economics and Policy2213-39682212-97742021-05-0110110.36253/wep-9878Millennial university students’ valuation of traditional wine: Evidence from an experimental auctionElói Jorge0Ernesto Lopez-Valeiras1Maria Beatriz Gonzalez-Sanchez2ECOBAS, Universidade de Vigo, RGEAF, Facultade de CC Económicas e EmpresariaisECOBAS, Universidade de Vigo, RGEAF, Departamento de Economía Financeira e Contabilidade, Facultade de CC Empresariais e TurismoECOBAS, Universidade de Vigo, RGEAF, Facultade de CC Económicas e EmpresariaisThis paper analyzes whether the perception of traditional wine brings value to millennials. Based on survey data and experimental auctions (165 participants), this study identifies the main factors affecting this consumer groups’ willingness to pay for traditional wine through a Tobit model methodology. The results suggest that millennials are willing to pay a higher price depending on demographic factors such as monthly disposable income, on wine involvement variables such as consumption frequency, and on nourishing and health aspects and product availability at points of sale, both of which are wine purchase decision criteria. The investigation has significant marketing and policy implications. https://oaj.fupress.net/index.php/wep/article/view/9878traditional winemillennialswillingness to paypurchase decision variablesexperimental auction |
| spellingShingle | Elói Jorge Ernesto Lopez-Valeiras Maria Beatriz Gonzalez-Sanchez Millennial university students’ valuation of traditional wine: Evidence from an experimental auction Wine Economics and Policy traditional wine millennials willingness to pay purchase decision variables experimental auction |
| title | Millennial university students’ valuation of traditional wine: Evidence from an experimental auction |
| title_full | Millennial university students’ valuation of traditional wine: Evidence from an experimental auction |
| title_fullStr | Millennial university students’ valuation of traditional wine: Evidence from an experimental auction |
| title_full_unstemmed | Millennial university students’ valuation of traditional wine: Evidence from an experimental auction |
| title_short | Millennial university students’ valuation of traditional wine: Evidence from an experimental auction |
| title_sort | millennial university students valuation of traditional wine evidence from an experimental auction |
| topic | traditional wine millennials willingness to pay purchase decision variables experimental auction |
| url | https://oaj.fupress.net/index.php/wep/article/view/9878 |
| work_keys_str_mv | AT eloijorge millennialuniversitystudentsvaluationoftraditionalwineevidencefromanexperimentalauction AT ernestolopezvaleiras millennialuniversitystudentsvaluationoftraditionalwineevidencefromanexperimentalauction AT mariabeatrizgonzalezsanchez millennialuniversitystudentsvaluationoftraditionalwineevidencefromanexperimentalauction |