Predicting how much a consumer is willing to pay for a bottle of wine: A preliminary study

Hugo Alonso; Teresa Candeias

doi:10.1016/j.procs.2022.08.101

Predicting how much a consumer is willing to pay for a bottle of wine: A preliminary study

Hugo Alonso, Teresa Candeias

University of Aveiro

Resultado de pesquisa › revisão de pares

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.

Idioma original	Inglês
Páginas (de-até)	836-843
Número de páginas	8
Revista	Procedia Computer Science
Volume	204
DOIs	https://doi.org/10.1016/j.procs.2022.08.101
Estado da publicação	Publicadas - 2022
Evento	2022 International Conference on Industry Sciences and Computer Science Innovation, iSCSi 2022 - Porto Duração: 9 mar. 2022 → 11 mar. 2022

Nota bibliográfica

Publisher Copyright:
© 2022 The Author(s).

Financiamento

Financiadoras/-es	Número do financiador
Fundação para a Ciência e a Tecnologia	UIDB/04106/2020, UIDP/04106/2020
Center for Research and Development in Mathematics and Applications

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10.1016/j.procs.2022.08.101

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title = "Predicting how much a consumer is willing to pay for a bottle of wine: A preliminary study",

abstract = "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.",

keywords = "Artificial neural networks, Classification, Decision trees, Support vector machines, Wine",

author = "Hugo Alonso and Teresa Candeias",

note = "Publisher Copyright: {\textcopyright} 2022 The Author(s).; 2022 International Conference on Industry Sciences and Computer Science Innovation, iSCSi 2022 ; Conference date: 09-03-2022 Through 11-03-2022",

year = "2022",

doi = "10.1016/j.procs.2022.08.101",

language = "English",

volume = "204",

pages = "836--843",

journal = "Procedia Computer Science",

issn = "1877-0509",

publisher = "Elsevier B.V.",

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TY - JOUR

T1 - Predicting how much a consumer is willing to pay for a bottle of wine

T2 - 2022 International Conference on Industry Sciences and Computer Science Innovation, iSCSi 2022

AU - Alonso, Hugo

AU - Candeias, Teresa

PY - 2022

Y1 - 2022

N2 - 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.

AB - 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.

KW - Artificial neural networks

KW - Classification

KW - Decision trees

KW - Support vector machines

KW - Wine

UR - http://www.scopus.com/inward/record.url?scp=85142869154&partnerID=8YFLogxK

U2 - 10.1016/j.procs.2022.08.101

DO - 10.1016/j.procs.2022.08.101

M3 - Conference article

AN - SCOPUS:85142869154

SN - 1877-0509

VL - 204

SP - 836

EP - 843

JO - Procedia Computer Science

JF - Procedia Computer Science

Y2 - 9 March 2022 through 11 March 2022

ER -

Predicting how much a consumer is willing to pay for a bottle of wine: A preliminary study

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