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

13 Pages Posted: 28 Oct 2003

See all articles by Guenter Schamel

Guenter Schamel

Free University of Bozen-Bolzano - Faculty of Economics and Management

Kym Anderson

University of Adelaide - Centre for International Economic Studies (CIES); Centre for Economic Policy Research (CEPR); Australian National University

Abstract

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 reputations over the vintages 1992-2000. The results show regional reputations have become increasingly differentiated through time (although less so for New Zealand). In particular, cool-climate regions are becoming increasingly preferred over other regions in Australia. In each country, price premia associated with both James Halliday's and Winestate magazine's sensory quality ratings, and with Halliday's winery ratings and classic wine designations, are highly significant.

Suggested Citation

Schamel, Gunter and Anderson, Kym, Wine Quality and Varietal, Regional and Winery Reputations: Hedonic Prices for Australia and New Zealand. Available at SSRN: https://ssrn.com/abstract=443427

Gunter Schamel

Free University of Bozen-Bolzano - Faculty of Economics and Management ( email )

Via Serniesi 1
I-39100 Bozen-Bolzano (BZ)
Italy
+39-0471-013-170 (Phone)

Kym Anderson (Contact Author)

University of Adelaide - Centre for International Economic Studies (CIES) ( email )

School of Economics
Adelaide SA 5005
Australia
+61 8 8313 4712 (Phone)
+61 8 8223 1460 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Australian National University ( email )

Arndt-Corden Dept of Economics
Coombs Building
Canberra, AK ACT 2600
Australia
+61 8 8313 4712 (Phone)

HOME PAGE: http://publicpolicy.anu.edu.au/crawford_people/content/staff/acde/kanderson.php

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