Determinantes del Precio del Vino en el Mercado Chileno: Un Estudio de Precios Hedónicos.
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Hedonic prices have been widely used in wine research allowing price decomposition by
attributes. In this market where products are highly differentiated the contribution of each
attribute to price provides valuable information to make productive and marketing decisions to
wineries. Using a significant sample of the Chilean wine market we estimated semi-logarithmic
price-attribute models. Results found for alcoholic content, volume and age are in accordance to
studies in other countries, albeit age presents a maximum contribution in less time. When make
effects are included the impact of grapevine is less important. We also found that the more
specific the labelling of the place of origin, the higher the price. We analyzed the strategies used
by the wineries to differentiate quality and found that the ones shared by several companies tend
to perform better than the ones used only by one brand.