Determinants of retail wine prices: evidence from Cyprus

被引：5
|
作者：
Michis, Antonis A. [1 ]
Markidou, Anna G. [1 ]
机构：
[1] Cent Bank Cyprus, CY-1395 Nicosia, Cyprus
来源：
EMPIRICAL ECONOMICS | 2013年 / 45卷 / 01期
关键词：
Wine; Nonlinear pricing; Market concentration; Fixed effects; QUALITY; EQUATION;
D O I：
10.1007/s00181-012-0616-y
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study uses a detailed panel dataset for the Cyprus wine market and a fixed effects simultaneous equations model specification to investigate retail wine price determinants. Our results show that producers' pricing policies tend to be influenced more by the level of market concentration in the wine and retail industries than by competitors' price movements. We propose a sales response model to identify the impact of marketing drivers on sales. Wine consumption in Cyprus is unit elastic, but the impact of competitive prices and retail distribution coverage on sales is small.
引用
收藏
页码：267 / 280
页数：14
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