What Determines the Future Value of an Icon Wine? New Evidence from Australia*

  title={What Determines the Future Value of an Icon Wine? New Evidence from Australia*},
  author={Kym Anderson and Danielle Wood},
  journal={Journal of Wine Economics},
  pages={141 - 161}
Abstract To what extent can the future price of icon wines be anticipated from information available at the time of their initial sale by wineries? Using a seemingly unrelated regression model we show that weather variables and changes in production techniques, along with the age of the wine, have significant power in explaining the secondary market price variation across different vintages of each of three icon Australian red wines. The results have implications for winemakers in determining… 

What Determines Port Wine Prices?*

Abstract In this study, we estimate a cross-sectional hedonic price function for Port wines in order to determine the price influence of several Port wine characteristics. Drawing on a large sample

Wine price determinants. Is there a homogeneous international standard?

Th is article presents an international comparison of the main determinants of wine prices in specialist online wine shops. Hedonic price functions were estimated for 9624 wines spread among four

Wine Economics*

Abstract Fine wine has a few characteristics that differentiate it from other agricultural commodities and beverages, rendering it an interesting topic for economists. Fine wine can regularly fetch

Determinants of Argentinean Wine Prices in the U.S.

Abstract A hedonic price function for Argentinean wines in the U.S market is estimated in order to evaluate the effect of the most important attributes of wine on price. Results show that labeling

Nonlinear hedonic pricing: a confirmatory study of South African wines

With a sample of South African red and white wines, this paper investigates the relationship between price, value, and value for money. The analysis is derived from a suite of regression models using

What to show on the wine labels: a hedonic analysis of price drivers of Sicilian wines

Unlike previous literature, we construct a hedonic model of wine price that incorporates all the main categories of variables simultaneously to enable a better evaluation of their importance on wine

Predicting the Quality and Prices of Bordeaux Wine*

Abstract Bordeaux wines have been made in much the same way for centuries. This article shows that the variability in the quality and prices of Bordeaux vintages is predicted by the weather that

The Effect of Weather on Wine Quality and Prices: An Australian Spatial Analysis*

Abstract In the context of the important implications of climate change, this paper analyzes the impact of weather on wine quality and prices for Australian premium wines. Motivated by a recognition

The Price Premium for Organic Wines: Estimating a Hedonic Farm-Gate Price Equation*

Abstract Organic wines are increasingly produced and appreciated. Because organic production is more costly, a crucial question is whether they benefit from a price premium. We estimate hedonic price

Wine Quality and Varietal, Regional and Winery Reputations: Hedonic Prices for Australia and New Zealand

We estimate hedonic price functions for premium wine from Australia and New Zealand, differentiating implicit prices for sensory quality ratings, wine varieties and regional as well as winery brand



Estimation of a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter?

In this paper, the hedonic price technique is applied to Bordeaux wine. In the hedonic function, the authors include not only the 'objective' characteristics appearing on the label of the bottle but

Prices of French Icon Wines and the Business Cycle: Empirical Evidence from Danish Wine Auctions

During the last decades auctions of selected wines have regularly taken place in Denmark. Therefore, by now, a considerable amount of data exists for auction wine prices, i.e. both the assessed wine

Who Gains from Australian Generic Wine R&D and Promotion?

A multi-sectoral partial equilibrium model of the markets for two types of Australian grapes and wine (premium and non-premium) is developed to study the aggregate returns from different types of


The paper focuses on identification and evaluation of wine quality characteristics of grapes. A pricing schedule that rewards producers for quality attributes is developed. This quality‐based pricing

Bordeaux Wine Vintage Quality and the Weather

Publisher Summary The current Bordeaux marketing system has the character of an agricultural income stabilization system, and this may be its purpose. Complete income stabilization for the growers

Predicting the Quality of an Unborn Grange

In a recent paper, O. Ashenfelter, D. Ashmore, and R. Lalonde (1993) found they could explain the variation in the price (and quality) of Bordeaux vintages by a combination of age, temperature, and

Building an internationally competitive Australian olive industry: lessons from the wine industry

More than 100 years ago it was claimed that " Many of the leading wine merchants of London and other important commercial centres admit that Australia promises to become a powerful rival in the

Endowments, production technologies and the quality of wines: is it possible to produce wine on paved roads?

We use a database that was collected by Muriel Monzak and Andras Monzak in 1992 (see Ginsburgh, Monzak and Monzak, 1994) on natural endowments and production technologies of over 100 vineyards from

Quality Expectations, Reputation, and Price

The impact on price of current product quality and reputation are estimated using data from the market for Bordeaux wine. A model is proposed in which price is a function of current quality and

Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition

  • S. Rosen
  • Economics
    Journal of Political Economy
  • 1974
A class of differentiated products is completely described by a vector of objectively measured characteristics. Observed product prices and the specific amounts of characteristics associated with