What Is the Value of Terroir?
AbstractWe examine the value of terroir--the set of special characteristics of a location that impart unique qualities to the wine produced. We conduct a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes--such as slope, aspect, elevation, and soil types—or designated appellations are more important determinants of price. We find that prices are strongly determined by appellation designations, but not by specific site attributes. These results indicate that the concept of terroir matters economically, but that the reality of terroir--as proxied by locational attributes--is not significant.
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 101 (2011)
Issue (Month): 3 (May)
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- Olivier Gergaud & Victor Ginsburgh, 2008.
"Natural Endowments, Production Technologies and the Quality of Wines in Bordeaux. Does Terroir Matter?,"
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- Olivier Gergaud & Victor Ginsburgh, 2008. "Natural endowments, production technologies and the quality of wines in Bordeaux. Does terroir matter?," ULB Institutional Repository 2013/99266, ULB -- Universite Libre de Bruxelles.
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"Do More Expensive Wines Taste Better? Evidence from a Large Sample of Blind Tastings,"
Working Paper Series in Economics and Finance
700, Stockholm School of Economics, revised 24 Apr 2008.
- Goldstein, Robin & Almenberg, Johan & Dreber, Anna & Emerson, John W. & Herschkowitsch, Alexis & Katz, Jacob, 2008. "Do More Expensive Wines Taste Better? Evidence From A Large Sample Of Blind Tastings," Working Papers 37328, American Association of Wine Economists.
- Charters, Steve & Spielmann, Nathalie, 2014. "Characteristics of strong territorial brands: The case of champagne," Journal of Business Research, Elsevier, vol. 67(7), pages 1461-1467.
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