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Spatial variations in climate and Bordeaux wine prices

Author

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  • Sébastien Lecocq
  • Michael Visser

    ()

Abstract

The 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.

Suggested Citation

  • Sébastien Lecocq & Michael Visser, 2006. "Spatial variations in climate and Bordeaux wine prices," Research Unit Working Papers 0610, Laboratoire d'Economie Appliquee, INRA.
  • Handle: RePEc:lea:leawpi:0610
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    References listed on IDEAS

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    More about this item

    Keywords

    Bordeaux; France; Wine price; climate conditions;

    JEL classification:

    • Q19 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Other

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