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Explaining variation in wine prices: the battle between objective and sensory attributes revisited

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  • Christer Thrane

Abstract

The relative influence of objective and sensory attributes' effects on wine prices have intrigued scholars recently. In this regard, a study by Lecocq and Visser (2006) concluded that the objective attributes were of primary importance. Against this background the purpose of this article is two-fold: (i) to establish that Lecocq and Visser's (2006) conclusion might be premature and (ii) to demonstrate how any study aiming at comparing the relative strengths of different sets of explanatory variables might be carried out more effectively.

Suggested Citation

  • Christer Thrane, 2009. "Explaining variation in wine prices: the battle between objective and sensory attributes revisited," Applied Economics Letters, Taylor & Francis Journals, vol. 16(13), pages 1383-1386.
    • Handle: RePEc:taf:apeclt:v:16:y:2009:i:13:p:1383-1386
    DOI: 10.1080/13504850701466056
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    References listed on IDEAS

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    1. Edward Oczkowski, 2001. "Hedonic Wine Price Functions and Measurement Error," The Economic Record, The Economic Society of Australia, vol. 77(239), pages 374-382, December.
    2. repec:bla:ecorec:v:77:y:2001:i:239:p:374-82 is not listed on IDEAS
    3. Jean-Marie Cardebat & Jean-Marc Figuet, 2004. "What explains Bordeaux wine prices?," Applied Economics Letters, Taylor & Francis Journals, vol. 11(5), pages 293-296.
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    2. Peter Gal & Attila Jambor, . "Geographical Indications as Factors of Market Value: Price Premiums and Their Drivers in the Hungarian Off-Trade Wine Market," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 12(2).

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