Spatial variations in climate and Bordeaux wine prices
AbstractThe purpose of this paper is to study the impact of climate conditions on Bordeaux wine prices. Unlike previous studies (based on data from the main weather station in Mérignac), we use climatological variables from many local stations. Two models are compared: one where prices are related to Mérignac weather conditions, and one where prices are related to local conditions (weather variables measured in the station the nearest to the château). Although a non-nested test suggests that the model based on local weather data is the preferred one, regressions of the two speciÞcations lead to very similar results. This is reassuring news for researchers interested in the relationship between climate and wine prices, but who do not have access to small-scale spatial variations in climate.
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Bibliographic InfoPaper provided by Laboratoire d'Economie Appliquee, INRA in its series Research Unit Working Papers with number 0610.
Length: 14 pages
Date of creation: Sep 2006
Date of revision:
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Bordeaux; France; Wine price; climate conditions;
Find related papers by JEL classification:
- Q19 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Other
This paper has been announced in the following NEP Reports:
- NEP-AGR-2006-12-01 (Agricultural Economics)
- NEP-ALL-2006-12-01 (All new papers)
- NEP-ENV-2006-12-01 (Environmental Economics)
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