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https://hdl.handle.net/2440/35187
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Type: | Journal article |
Title: | What determines the future value of an icon wine? New evidence from Australia |
Author: | Wood, D. Anderson, K. |
Citation: | Journal of Wine Economics, 2006; 1(2):141-161 |
Publisher: | American Association of Wine Economics |
Issue Date: | 2006 |
ISSN: | 1931-4361 1931-437X |
Abstract: | <jats:title>Abstract</jats:title><jats:p>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 the prices they pay for grapes and charge for their wines, and for consumers/wine investors as a guide to the prospective quality of immature icon wines. (JEL codes: C23, D12, D44, D80, G12)</jats:p> |
Keywords: | Wine quality investment under certainty hedonic pricing model |
Description: | An earlier version is circulated as CEPR Discussion Paper No. 5044, London, May 2005 |
DOI: | 10.1017/S1931436100000171 |
Grant ID: | ARC |
Published version: | http://dx.doi.org/10.1017/s1931436100000171 |
Appears in Collections: | Aurora harvest Economics publications |
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