This paper is devoted to give empirìcal evidence ofthe quality-price relations for Parmigiano and Padano Cheeses. To develop this topic, two concepts of quality are hypothesized: i) thè intrinsic quality measured with separarle attributes priced in orderly efficient markets; ii) the extrinsic quality assessed by subjective perceptions of the produci's quality. Two econometrie models are estimated: i) the first one has the purpose to give empiiìcal evidence of the intrinsic quality by measuring the attribute-price relations in Parmigiano with the hedonic price model; ii) the second tests the existence of asimmetric response at various market levelsfor Parmigiano and Padano in arder to explain thè customer's reaction to different qualities. The results are statistically relevant and suggest the evidence of customer reactions to alternative qualities
The estimation of quality-price relations: the case of Parmigiano and Padano Cheeses
ROSA, Franco
1995-01-01
Abstract
This paper is devoted to give empirìcal evidence ofthe quality-price relations for Parmigiano and Padano Cheeses. To develop this topic, two concepts of quality are hypothesized: i) thè intrinsic quality measured with separarle attributes priced in orderly efficient markets; ii) the extrinsic quality assessed by subjective perceptions of the produci's quality. Two econometrie models are estimated: i) the first one has the purpose to give empiiìcal evidence of the intrinsic quality by measuring the attribute-price relations in Parmigiano with the hedonic price model; ii) the second tests the existence of asimmetric response at various market levelsfor Parmigiano and Padano in arder to explain thè customer's reaction to different qualities. The results are statistically relevant and suggest the evidence of customer reactions to alternative qualitiesI documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
