Purpose: In a highly competitive market, the price of wine is a variable controlled by suppliers to suggest a level of quality. An index of relative firm position in the market based on relative prices is calculated for a sample of wine producers. The purpose of the paper is to analyze some of...

Purpose The purpose of this paper is to examine the purchase decision of consumers when faced with a perceived risk related to a “corked” wine for different levels of price. It provides an example of a study of consumer behavior in the context of risk aversion and when a risk-reduction...