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The Impact of Different Informational Messages on Wine Tourists’ Willingness to Pay: A Non-hypothetical Experiment
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Abstract
In the U.S. and around the world, thousands of new wineries have opened in the last decade, most in areas not previously known for wine. The majority of these are small-scale and sell most of the wine produced out of tasting rooms, thus creating great opportunities for wine tourism. This rapid growth offers an important opportunity for rural areas, but only if the many new and inexperienced winery businesses can successfully navigate the challenges of operating both wine and tourism businesses. This study aims to help emerging wine tourism businesses by using non-hypothetical experiments to determine how different types of information impacts tourists’ willingness-to-pay for wine. We use Becker, DeGroot, and Marschak (BDM) experimental auctions to show that different types of information have different impacts on wine tourists’ willingness to pay for new and lesser-known varietals of wine.
Type
event
event
event
Date
2016