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Estimating the Effect of the Order of Information Revelation on Purchases: Expectations and Subjective Experience in the Wine Market AgEcon
Gustafson, Christopher R..
Recent research on consumer behavior has indicated that, contrary to most models in economics, information can affect consumers' subjective experience with a good. When consumers receive information about the quality of a good before experiencing the sensory characteristics of the good, the consumers' stated preferences for the goods have been affected. However, a study has yet to examine whether this affects consumers' purchasing decisions, or is limited to stated preference. This field experiment looks at the release of appellation information prior to and after tasting of wine, and uses sales of the two wines tasted as a dependent variable.
Tipo: Conference Paper or Presentation Palavras-chave: Food Consumption/Nutrition/Food Safety; Marketing.
Ano: 2008 URL: http://purl.umn.edu/6256
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Combining Consumer Valuation Research with Sensory Science Techniques: A Laboratory Experiment AgEcon
Gustafson, Christopher R.; Lybbert, Travis J.; Sumner, Daniel A..
In this research, we integrated an experimental auction with sensory science techniques—namely, trained sensory panels used to analyze the sensory attributes of wines—to examine the effects of objective and sensory information in the market for California-produced Cabernet Sauvignons. The experiment permitted observation of consumer valuation for sensory attributes of wine, appellations, expert ratings, and wineries. Participants submitted bids each time they received new information about the wines. The balanced experimental design permits evaluation of the effects of consumer characteristics on attribute valuation. We had 236 people participate in the research, which consisted of nine rounds of bidding and one round of hedonic liking scores. Rounds...
Tipo: Conference Paper or Presentation Palavras-chave: Experimental Economics; Willingness to Pay; WTP; Wine; Consumer Valuation; Hedonic Pricing; Sensory Analysis; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Marketing; Research Methods/ Statistical Methods.
Ano: 2011 URL: http://purl.umn.edu/103430
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