A HEDONIC PRICE FUNCTION FOR AUSTRALIAN PREMIUM TABLE WINE

A hedonic price function, relating the price of Australian wine to its attributes, is estimated. Six attribute groups are found to be statistically important in explaining deviations from average wine prices, i.e., quality, cellaring potential, grape variety/style, grape region, grape vintage and producer size. Various interaction terms between these variables and the impact of the year of marketing are also modelled. The consequent marketing implications for producers and consumers are discussed.


Issue Date:
1994-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/22421
Published in:
Australian Journal of Agricultural Economics, Volume 38, Number 1
Page range:
93-110
Total Pages:
18




 Record created 2017-04-01, last modified 2017-08-24

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)