A Hedonic Price Analysis for the New Zealand Wine Industry: Preliminary Results

Kathryn Bicknell · Lana Friesen

11 citations0/0 files storedRePEc: Research Papers in Economics

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Wine Industry and Tourism Economics of Agriculture and Food Markets Economic and Environmental Valuation

Abstract

This paper presents preliminary results from a hedonic price analysis of premium wines in New Zealand over the vintages 1994 – 2003. Implicit prices are presented for a sensory quality rating, as well as wine variety and regional reputation. Results show that the price premium associated with Michael Cooper's five-star quality rating is highly significant and increasing in magnitude over the study period. Trends in regional and varietal preferences are also explored.

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References

1974Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition 1997Estimation of a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter?2003Wine Quality and Varietal, Regional and Winery Reputations: Hedonic Prices for Australia and New Zealand 1994A HEDONIC PRICE FUNCTION FOR AUSTRALIAN PREMIUM TABLE WINE*1995Hedonic price functions and the measurement of preferences: The case of Swedish wine consumers 2001Hedonic Wine Price Functions and Measurement Error 1993WINE QUALITY DIFFERENTIALS IN HEDONIC GRAPE PRICING 1999Hedonic price indexes and the qualities of wines

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