The impact of gurus:: Parker grades and En primeur wine prices

• 成果类型: Article
• 署名作者: Ali, Hela Hadj; Lecocq, Sebastien; Visser, Michael
• 署名单位: INRAE; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/j.1468-0297.2008.02147.x
• 发表日期: 2008
• 页码: F158-F173
• 关键词: quality

摘要

This article looks at the impact of Robert Parker's oenological grades on the so-called en primeur prices of young Bordeaux wines. The Parker grades are usually published in the spring of each year, before the wine prices are established. However, the wine grades for 2003 were published much later, in the autumn, after the determination of prices. This unusual reversal is exploited to estimate a Parker effect which we find to be, on average, worth 2.80 euros per bottle of wine. We also use grade-specific effects to predict what prices would have been had Parker attended the 2003 spring tasting.