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- W2144417543 abstract "We separate the budgetary and non-budgetary effects of price on demand using choice data from wine tasting experiments in which consumers tasted wines of different quality accompanied by fictitious price information. The non-budgetary effect is present and nonlinear: it is strongly positive between 3 and 5 euro, and undetectable between 5 and 8 euro. We find a similar nonlinear price-quality relationship in a large sample of wine ratings from the same price segment, supporting the hypothesis that consumer behavior in the experiment is consistent with rationally using prices as signals of quality. Price signals also have greater importance for inexperienced (young) consumers." @default.
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- W2144417543 date "2012-10-01" @default.
- W2144417543 modified "2023-09-27" @default.
- W2144417543 title "Price as a signal of product quality: Some experimental evidence" @default.
- W2144417543 hasPublicationYear "2012" @default.
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