Natural endowments, production technologies and the quality of wines in Bordeaux. Does terroir matter?
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. Copyright ï¿½ The Author(s). Journal compilation ï¿½ Royal Economic Society 2008.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -2025.
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Note: In : The Economic Journal, 118, 142-157, 2008
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Other versions of this item:
- Olivier Gergaud & Victor Ginsburgh, 2008. "Natural Endowments, Production Technologies and the Quality of Wines in Bordeaux. Does Terroir Matter?," Economic Journal, Royal Economic Society, vol. 118(529), pages F142-F157, 06.
- 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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