E-commerce retail of extra virgin olive oil: an hedonic analysis of Italian SMEs supply

Purpose – The purpose of this paper is to analyse the relationship between the price of extra virgin olive (EVO) oil and its main quality attributes, in the specific case of business-to-consumers electronic commerce (B2C EC) channel. The final objective is to provide useful insights for small and medium-sized enterprises (SMEs) interested in online selling of EVO. Design/methodology/approach – A hedonic price model was estimated considering the following attributes: packaging, cultivar composition, organic certification, oil extraction method, origin certification and localization of selling firms. A survey was performed in 2012 considering 169 virtual stores of SMEs (farms, mills and bottlers) located in all the main Italian olive-growing areas. A data set of 667 references was used to estimate the implicit prices of considered attributes. Findings – The EVOs sold through virtual stores are highly differentiated on the basis of several quality attributes among which the most important is the certification of origin (protected denominations of origin/protected geographical indication). Therefore the firm location could generate considerable advantages or disadvantages in adopting a B2C EC strategy. Research limitations/implications – Future researches should develop a comparison between the premium prices and costs associated to each attribute in order to find the best product differentiation strategy. An accurate analysis about the implementation and management costs of EC systems as well as an examination of interactions between online and offline sale channels is needed. It would be useful to compare the manufacturer direct sell business model with other business model. Originality/value – Few studies applied the hedonic price model to analyse the retail olive oil market. Nevertheless, no studies have analysed the market of EVO sold in virtual shops.

Download Full-text

Extra-virgin olive oil: are consumers provided with the sensory quality they want? A hedonic price model with sensory attributes

Journal of the Science of Food and Agriculture ◽

10.1002/jsfa.8633 ◽

2017 ◽

Vol 98 (4) ◽

pp. 1591-1598 ◽

Cited By ~ 19

Author(s):

Carla Cavallo ◽

Francesco Caracciolo ◽

Gianni Cicia ◽

Teresa Del Giudice

Keyword(s):

Olive Oil ◽

Sensory Quality ◽

Virgin Olive Oil ◽

Extra Virgin Olive Oil ◽

Sensory Attributes ◽

Hedonic Price Model ◽

Hedonic Price ◽

Price Model

Download Full-text

A hedonic price model for ski lift tickets in the Dolomites

Worldwide Hospitality and Tourism Themes ◽

10.1108/whatt-12-2017-0082 ◽

2018 ◽

Vol 10 (2) ◽

pp. 222-235 ◽

Cited By ~ 3

Author(s):

Sara Rosson ◽

Lorenzo Zirulia

Keyword(s):

Environmental Sustainability ◽

Hedonic Price Model ◽

Hedonic Price ◽

Value For Money ◽

Price Model ◽

Product Price ◽

Content Type ◽

Tourism Product ◽

Ticket Prices

Purpose Different, alternative or complementary strategies have been advanced for the rejuvenation of the ski tourism product, thus favoring its economic and environmental sustainability. This paper aims to provide new suggestions by looking at the determinants of ski lift ticket prices in the Dolomites. Design/methodology/approach The paper uses a hedonic price model approach, which allows the identification of the relative importance of different attributes on the determination of a product price. Findings The model shows that a higher level of investment in modern lifts and snowmaking equipment undertaken by the resort pays off in terms of customers’ perceived value-for-money relationship. The same is not true for investments in the enlargement of the skiable surface or the introduction of night skiing options and illuminated slopes. The authors found evidence that non-participatory activities, such as different winter sports and on-slope entertainment, can improve the customer’s perception of resorts’ quality. Finally, reputation plays an important role in determining the customers’ perception of good value-for-money destinations and deals. Originality/value With respect to previous works, the research expands the range of attributes possibly impacting ski lift ticket prices. Identifying crucial elements consumers would be willing to pay for allows managers to re-think and adjust their products and prices accordingly, improving the economic sustainability of the ski tourism product.

Download Full-text

Institutions in rural land transactions

Journal of European Real Estate Research ◽

10.1108/jerer-01-2014-0005 ◽

2014 ◽

Vol 7 (2) ◽

pp. 216-238

Author(s):

Alexander Woestenburg ◽

Erwin van der Krabben ◽

Tejo Spit

Keyword(s):

Real Estate Market ◽

Land Market ◽

Hedonic Price Model ◽

Hedonic Price ◽

Price Model ◽

Rural Land ◽

Land Price ◽

Market Outcomes ◽

Content Type ◽

Institutional Aspects

Purpose – This article aims at analysing the different institutional aspects of the rural land market that are manifest at the transactional level. Second, it answers the question whether including these aspects in a land price model increases the understanding of rural land market outcomes. Institutional economics scholars have challenged the limited institutional behaviour of conventional land market models. Despite their research methods remaining primarily qualitative, research findings suggest that we should look at institutional aspects to understand land and real estate market outcomes better. Design/methodology/approach – This paper presents a hedonic price model explaining rural land prices by using individual institutional transaction aspects from the deeds of purchase of the land exchange. Findings – The results indicate that incorporating institutional aspects, such as property rights, transactional arrangements and governance context, as explanatory variables significantly improves the power of the model. Originality/value – The approach taken in this article is new in the sense that it tries to combine a quantitative research method with a rich data set of a more qualitative character. The use of deeds of purchase as a primary source of a hedonic price model is relatively new and provides a first step in bridging the gap between advanced hedonic land price models and rich institutional economic insights in market processes.

Download Full-text

Factors Determining the Prices of Thai silk: A Hedonic Price Analysis

KnE Life Sciences ◽

10.18502/kls.v4i2.1673 ◽

2018 ◽

Vol 4 (2) ◽

pp. 204

Author(s):

Pacharaporn Supavitarn ◽

Apichaya Lilavanichakul

Keyword(s):

Business Model ◽

Positive Impact ◽

Distribution Channel ◽

Hedonic Price Model ◽

Silk Fabric ◽

Hedonic Price ◽

Price Model ◽

Factors Affecting ◽

Differentiation Strategy ◽

Hedonic Price Analysis

This paper aims to analyze factors determining the prices of Thai silk products by using the hedonic price model. A quantitative and qualitative approach were used to obtain the data of silk products. Findings from statistical estimated coefficients indicated that many factors were importance to Thai silk producers and related to consumers willing to pay for a premium price for some attributes. The results showed that the location of retail store, types of business model, and online distribution channel were factors affecting to price setting with a positive impact. The negative factors determining the prices were normal silk fabric (without the Royal peacock logo) and the variety of the product. The outcomes suggest that producers of Thai silk fabric should use the location of store, the business model, and the distribution channel as advantages of a product differentiation strategy to adding value to silk products. Keywords: Royal Peacock Brand; Thai Silk; Hedonic Price Model; Utility

Download Full-text

Hedonic price analysis of the quality characteristics of Anatolian hard red wheat

Agricultural Economics (Zemědělská ekonomika) ◽

10.17221/37/2014-agricecon ◽

2014 ◽

Vol 60 (No. 10) ◽

pp. 469-478

Author(s):

S. Karaman ◽

F. Yavuz

Keyword(s):

Protein Content ◽

Quality Characteristics ◽

Hedonic Price Model ◽

Hedonic Price ◽

Price Model ◽

Data Set ◽

Commodity Exchange ◽

Hedonic Price Analysis ◽

Price Increases ◽

Price Analysis

The study analyses the relations between the quality characteristics and price of the Anatolian Hard Red Wheat. It uses a data set consisting of the price and eight quality characteristics of the Anatolian Hard Red Wheat traded in spot transaction in each month of 2011 in the Polatli Commodity Exchange. Marginal implicit values of the quality characteristics of the Anatolian Red Hard Wheat traded in the spot market of the Polatli Commodity Exchange are determined through the hedonic price model. This model is estimated from the linear-log functional form. Results of the hedonic price model demonstrate that the quality characteristics, which are statistically significant in the determination of price, namely, the protein content, the hectolitre weight, and the grain content damaged by pests and wheat bugs, are important factors in the purchasing decisions of flour millers. As the protein content and the hectolitre weight of wheat increase by 1%, the price increases by TL 0.005 and TL 0.006, respectively. As the grain content damaged by pests and wheat bugs increases by 1%, the price of wheat drops by TL 0.0002. These marginal implicit values are expected to encourage wheat producers to produce the higher quality wheat.  

Download Full-text