Factors that Influence Prices for Cool-Climate Wines: A Hedonic Analysis of the Market for Riesling

The price of wine represents various characteristics that differentiate each bottle, assuming that the majority of consumers use price as a signal of quality. The objective of this study is to analyze the drivers of Riesling prices, since this varietal continues to gain popularity and can be grown in all climates, including cool-climate regions. We expand the use of quality ratings by including interaction terms to express wine-quality and price-quality relationships. The results suggest that higher price premiums are associated with wines that earned high expert rating scores, and this emphasizes the importance of market-perceived quality signals.


Editor(s):
Epperson, James
Escalante, Cesar
Issue Date:
2011-2011-2011
Publication Type:
Journal Article
ISSN:
0738-8950
Language:
English
Published in:
Journal of Agribusiness, Volume 29, Number 1
Page range:
99-116




 Record created 2017-07-19, last modified 2017-11-10

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