The Price Premium for Organic Wines: Estimating a Hedonic Farm-Gate Price Equation

Alessandro Corsi · Steinar Strøm

44 citations0/0 files storedJournal of Wine Economics

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Wine Industry and Tourism Economics of Agriculture and Food Markets Organic Food and Agriculture

Abstract

Abstract Organic wines are increasingly produced and appreciated. Because organic production is more costly, a crucial question is whether they benefit from a price premium. We estimate hedonic price functions for Piedmont organic and conventional wines. We use data on the production side in addition to variables of interest to consumers. Our results show that, along with characteristics of interest to consumers, some farm and producer characteristics not directly relevant for consumers do significantly affect wine prices. We find that organic wine tends to obtain higher prices than conventional wine. The price premium is not simply an addition to other price components; organic quality modifies the impact of the other variables on price. (JEL Classification: C21, D49, L11, Q12)

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1974Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition 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 2008Predicting the Quality and Prices of Bordeaux Wine 2001Hedonic Wine Price Functions and Measurement Error 1995Bordeaux Wine Vintage Quality and the Weather

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