Natural endowments, production technologies, and the quality of wines in Bordeaux. Is it possible to produce wine on paved roads?
AbstractWe study whether quality assessments made by wine experts and by consumers (based on prices obtained at auction between 1980 and 1992), can be explained by variables describing endowments (land characteristics, exposures of vineyards) and technologies (from grape varieties and picking, to bottled wines). However, since technological choices are likely to depend on endowments, the effects can only be identified using an instrumental variables approach. We show that technological choices affect quality much more than natural endowments, the effect of which is negligible.
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Bibliographic InfoPaper provided by American Association of Wine Economists in its series Working Papers with number 37294.
Date of creation: Apr 2007
Date of revision:
wine production; wine quality; Crop Production/Industries; Demand and Price Analysis; Environmental Economics and Policy;
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NBER Working Papers
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ULB Institutional Repository
2013/152435, ULB -- Universite Libre de Bruxelles.
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