Predicting how much a consumer is willing to pay for a bottle of wine: a preliminary study
The wine industry is an important business sector, generating billions in annual revenue. In the last year, there were several lockdowns due to the COVID-19 pandemic and wine consumption at home has increased. This paper considers the problem of predicting how much a consumer is willing to pay for a...
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| Formato: | conferenceObject |
| Idioma: | eng |
| Publicado em: |
2022
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| Texto completo: | http://hdl.handle.net/10773/35315 |
| País: | Portugal |
| Oai: | oai:ria.ua.pt:10773/35315 |
| Resumo: | The wine industry is an important business sector, generating billions in annual revenue. In the last year, there were several lockdowns due to the COVID-19 pandemic and wine consumption at home has increased. This paper considers the problem of predicting how much a consumer is willing to pay for a bottle of wine to drink at home, in a regular occasion. As far as we know, this is the first study on the subject. The problem is treated as a classification task and several prediction models, based on artificial neural networks, support vector machines and decisions trees, are proposed and compared. |
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