CALIFORNIA WINE WINNERS: A HEDONIC ANALYSIS OF REGIONAL AND WINERY REPUTATION INDICATORS

Guenter Schamel

8 citations0/0 files storedRePEc: Research Papers in Economics

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Abstract

We hypothesize that quality signals improve over time with the quality performance of a wine producer, and that spillovers will affect other producers within the same region. For this purpose, we estimate a hedonic pricing model for premium California wine. Data source is the annual publication "California Wine Winners" accumulated over the judging years 1990-2001. Quality indicators for 19,583 wines are medals awarded during nine annual wine competitions, variety, regional origin, judging age as well as derived producer (brand) and regional reputation indicators. The data confirms that a wine's price is related to its own quality and to producer/regional reputation for quality.

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References

1974Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition 1983Premiums for High Quality Products as Returns to Reputations 1996A Theory of Collective Reputations (with Applications to the Persistence of Corruption and to Firm Quality)1997Estimation of a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter?1997The Use of Quality and Reputation Indicators by Consumers: The Case of Bordeaux Wine 1994A HEDONIC PRICE FUNCTION FOR AUSTRALIAN PREMIUM TABLE WINE*1995Hedonic price functions and the measurement of preferences: The case of Swedish wine consumers 2019Quality Expectations, Reputation and Price

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