Is precision viticulture worth the effort? An evaluation using the Price Sensitivity Meter and experimental auctions

Abstract This study examines consumers’ willingness to pay (WTP) for “precision viticulture” in the production of the Italian wine “Falanghina del Sannio” using van Westendorp’s Price Sensitivity Meter (PSM) and Becker-deGroot-Marschak (BDM) experimental auctions. Results show that the “precision viticulture” attribute contributes approximately 22.25% to the total value of a sustainable bottle, with revenues maximised at the price of 2 Euros. A 1% price increase reduces demand by 3.31%. Higher baseline wine values and female consumers show higher WTP. These insights can guide policymakers and wine producers in pricing and marketing sustainable wine, especially to environmentally-conscious and high-value consumers, particularly women.