Hostname: page-component-586b7cd67f-dsjbd Total loading time: 0 Render date: 2024-12-02T19:19:32.476Z Has data issue: false hasContentIssue false
  • English
  • Français

What Determines Port Wine Prices?*

Published online by Cambridge University Press:  08 June 2012

Rui Couto Viana  and
Lúcia Lima Rodrigues
Rui Couto Viana
Affiliation:
University of Porto, Faculty of Economics, Rua Dr. Roberto Frias, 4200–464 Porto,Portugal, email: [email protected]
Lúcia Lima Rodrigues
Affiliation:
School of Management and Economics, University of Minho, Campus de Gualtar, 4710–057 Braga,Portugal, email: [email protected]
Get access Rights & Permissions [Opens in a new window]

Abstract

In this study, we estimate a cross-sectional hedonic price function for Port wines in order to determine the price influence of several Port wine characteristics. Drawing on a large sample of more than 14,000 sales from the biggest Port wine firms we find that market prices can be explained by objective characteristics such as age, type of Port and type of brand appearing on the bottle label and subjective characteristics such as firm reputation. The Port type is the main price determinant. (JEL Classification: C21, Q11)

Type
Articles
Information
Journal of Wine Economics , Volume 2 , Issue 2 , Fall 2007 , pp. 203 - 212
Copyright
Copyright © American Association of Wine Economists 2007

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Combris, P., Lecocq, S. and Visser, M. (1997). Estimation of a hedonic price equation for Bordeaux wine: does quality matter? The Economic Journal, 7, 390–402.CrossRefGoogle Scholar
Combris, P., Lecocq, S. and Visser, M. (2000). Estimation of a hedonic price equation for Burgundy wine. Applied Economics, 32, 961–967.CrossRefGoogle Scholar
Landon, S. and Smith, C.E. (1997). The use of quality and reputation indicators by consumers: the case of Bordeaux wine. Journal of Consumer Policy, 20, 289–323.CrossRefGoogle Scholar
Landon, S. and Smith, C.E. (1998). Quality expectations, reputation, and price. The Southern Economic Journal, 64, 628–647.Google Scholar
Wood, D. and Anderson, K. (2006). What determines the future value of an icon wine? Journal of Wine Economics, 1 (2), 141–161.CrossRefGoogle Scholar