Key market values for bottled wine in an emerging market: product attributes or business strategy?

This article focuses on the emerging bottled Chilean red wine market and studies the main determinants of the consumer price of wine sold on the domestic market. A hedonic price function was estimated for a sample of 810 wines using a quantile regression (QR) model. The database contains three variables groups to explain price: objective variables (national, international, and vine quality designations), subjective variables (wine score), and business strategies used by wine producers.Postprint (author's final draft