Product differentiation and the relative importance of wine attributes: U.S. retail prices

Abstract This paper investigates the relative importance of various attributes, including varietal, brands, and geographic origin, in explaining retail wine prices for United States market. We use a metric based on Shapely value, from cooperative game theory, context an empirical hedonic price equation estimated using large sample sales home consumption over period 2007–2019. find that brands alone explain more than 70% variation prices, but origin varietals retain additional explanatory power. Furthermore, information about appears to be considerably important attribute varietals.