Experimental auction reveals higher willingness to pay for local grapes by label but diminished premiums in blind tasting, suggesting risks of global wine market standardization.
Key Points
To determine consumer willingness to pay for wines composed of varying shares of autochthonous versus international grape varieties under informed and blind conditions.
Conducted an experimental auction measuring willingness to pay based strictly on grape variety label information.
Administered a blind tasting auction to assess bidding behavior for autochthonous and international wine blends in the absence of label cues.
Information-only auction bidding demonstrated a higher willingness to pay for wines containing typical autochthonous blends compared to international varieties.
Blind tasting auctions revealed a substantial reduction in the price premium consumers were willing to pay for autochthonous grape varieties relative to international blends.