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A Hedonic Price Function For Australian Premium Table Wine

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Author Info
Oczkowski, Edward

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Abstract

A hedonic price function, relating the price of Australian wine to its attributes, is estimated. Six attribute groups are found to be statistically important in explaining deviations from average wine prices, i.e., quality, cellaring potential, grape variety/style, grape region, grape vintage and producer size. Various interaction terms between these variables and the impact of the year of marketing are also modelled. The consequent marketing implications for producers and consumers are discussed.

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File URL: http://purl.umn.edu/22421
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Publisher Info
Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.

Volume (Year): 38 (1994)
Issue (Month): 01 (April)
Pages:
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Handle: RePEc:ags:ajaeau:22421

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Related research
Keywords: Marketing; Research Methods/ Statistical Methods;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. A. Golan & H. Shalit, 1993. "Wine Quality Differentials In Hedonic Grape Pricing," Journal of Agricultural Economics, Blackwell Publishing, vol. 44(2), pages 311-321. [Downloadable!] (restricted)
  2. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb.. [Downloadable!] (restricted)
  3. Coelli, T. & Lloyd-Smith, J. & Morrison, D. & Thomas, J., 1991. "Hedonic Pricing For A Cost Benefit Analysis Of A Public Water Supply Scheme," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(01), April. [Downloadable!]
  4. Clements, K.W. & Selvanathan, S., 1991. "The Economic Determinants Of Alcohol Consumption," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(02), August. [Downloadable!]
  5. Godfrey, Leslie G & McAleer, Michael & McKenzie, Colin R, 1988. "Variable Addition and LaGrange Multiplier Tests for Linear and Logarithmic Regression Models," The Review of Economics and Statistics, MIT Press, vol. 70(3), pages 492-503, August. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Schamel, Guenter, 2002. "California Wine Winners: A Hedonic Analysis Of Regional And Winery Reputation Indicators," 2002 Annual meeting, July 28-31, Long Beach, CA 19864, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  2. Chang, Hui-Shung Christie & Bettington, Nicholas, 2001. "Demand for Wine in Australia: Systems Versus Single Equation Approach," Working Papers 12923, University of New England, School of Economics. [Downloadable!]
  3. Pavese, Piermassimo & Zanola, Roberto, 2008. "Autochthon vs. blended wines: Do objective and sensory characteristics matter?," P.O.L.I.S. department's Working Papers 107, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  4. Malorgio, Giulio & Camanzi, Luca & Grazia, Cristina, 2007. "Effectiveness of European Appellations of Origin on the International wine market," 105th Seminar, March 8-10, 2007, Bologna, Italy 7896, European Association of Agricultural Economists. [Downloadable!]
  5. José Cadima Ribeiro & José Freitas Santos, 2004. "Region's reputation and the price of regional products: a hedonic analysis of Portuguese quality cheese," ERSA conference papers ersa04p41, European Regional Science Association. [Downloadable!]
  6. Salayo, Nerissa D. & Voon, Thomas J. P. & Selvanathan, Saroja, 1999. "Implicit Prices Of Prawn And Shrimp Attributes In The Philippine Domestic Market," Marine Resource Economics, Marine Resources Foundation, vol. 14(1). [Downloadable!]
  7. Steiner, Bodo, 2002. "The Valuation Of Labelling Attributes In A Wine Market," 2002 Annual meeting, July 28-31, Long Beach, CA 19718, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  8. Durham, Catherine A. & Pardoe, Iain & Vega-H, Esteban, 2004. "A Methodology for Evaluating How Product Characteristics Impact Choice in Retail Settings with Many Zero Observations: An Application to Restaurant Wine Purchase," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(01), April. [Downloadable!]
  9. Costanigro, Marco & McCluskey, Jill & Mittelhammer, Ron, 2006. "Identifying submarket in the wine industry: a multivariate approach to hedonic regression," 2006 Annual meeting, July 23-26, Long Beach, CA 21370, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  10. Delmas, Magali A. & Grant, Laura E., 2008. "Eco-Labeling Strategies: The Eco-Premium Puzzle In The Wine Industry," Working Papers 37325, American Association of Wine Economists. [Downloadable!]
  11. Hufton, Charlie & Griffith, Garry & Mullen, John, 2008. "The influence of weight and fat on lamb prices revisited," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6021, Australian Agricultural and Resource Economics Society. [Downloadable!]
  12. James J. Fogarty, 2002. "Why is Expert Opinion on Wine Valueless?," Economics Discussion / Working Papers 02-17, The University of Western Australia, Department of Economics. [Downloadable!]
  13. Santos, J. Freitas & Ribeiro, J. Cadima, 2005. "Product Attribute Saliency and Region of Origin: Some Empirical Evidence from Portugal," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24667, European Association of Agricultural Economists. [Downloadable!]
  14. Sanja Lutzeyer, 2008. "Estimating Hedonic Prices for Stellenbosch wine," Working Papers 15/2008, Stellenbosch University, Department of Economics. [Downloadable!]
  15. Schamel, Guenter, 2003. "International Wine Trade: Analyzing The Value Of Reputation And Quality Signals," 2003 Annual meeting, July 27-30, Montreal, Canada 22157, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  16. Danielle E. Rabkin & Timothy K.M. Beatty, 2007. "Does VQA Certification Matter? A Hedonic Analysis," Canadian Public Policy, University of Toronto Press, vol. 33(3), pages 299-314, September. [Downloadable!] (restricted)
  17. Donnet, Laura & Weatherspoon, Dave & Hoehn, John P., 2007. "Price Determinants in Top Quality E-Auctioned Specialty Coffees," Staff Papers 9310, Michigan State University, Department of Agricultural, Food, and Resource Economics. [Downloadable!]
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