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Prices of American Pinot Noir wines: climate, craftsmanship, critics

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  • John W. Haeger
  • Karl Storchmann

Abstract

Pinot Noir, a variety originating from Burgundy in France, is the most expensive category of table wine produced in North America. This article is aimed at analyzing its price determinants and focuses on climate, critical scores, and variables related to the winemaker. The main findings are as follows: (1) Pinot Noir prices are mainly determined by temperature and precipitation. General temperature increases are not beneficial. In fact, the optimal climate is similar to that in Burgundy. (2) The second most important variable is the winemaker. His or her skill and reputation have a significant impact on prices. (3) Expert knowledge, in the form of critical scores, has little explanatory value. Copyright 2006 International Association of Agricultural Economists.

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Bibliographic Info

Article provided by International Association of Agricultural Economists in its journal Agricultural Economics.

Volume (Year): 35 (2006)
Issue (Month): 1 (07)
Pages: 67-78

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Handle: RePEc:bla:agecon:v:35:y:2006:i:1:p:67-78

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Cited by:
  1. Resano, H. & Sanjuan, Ana Isabel, 2008. "An hedonic approach applied to scanner data on cured ham purchases in Spain," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44383, European Association of Agricultural Economists.
  2. Teuber, Ramona & Herrmann, Roland, 2012. "Towards a differentiated modeling of origin effects in hedonic analysis: An application to auction prices of specialty coffee," Food Policy, Elsevier, vol. 37(6), pages 732-740.
  3. Ashenfelter, Orley & Storchmann, Karl, 2014. "Wine and Climate Change," Working Papers 164854, American Association of Wine Economists.
  4. San Martin, Guillermo S. & Brummer, Bernhard & Troncoso, Javier L., 2008. "Determinants Of Argentinean Wine Prices In The U.S. Market," Working Papers 37327, American Association of Wine Economists.
  5. Orley C. Ashenfelter & Karl Storchmann, 2010. "Measuring the Economic Effect of Global Warming on Viticulture Using Auction, Retail, and Wholesale Prices," NBER Working Papers 16037, National Bureau of Economic Research, Inc.
  6. Antonis Michis & Anna Markidou, 2013. "Determinants of retail wine prices: evidence from Cyprus," Empirical Economics, Springer, vol. 45(1), pages 267-280, August.

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