作者：Gergaud, Olivier; Ginsburgh, Victor
作者单位：Universite de Reims Champagne-Ardenne; Universite Libre de Bruxelles; Universite Catholique Louvain
摘要：We study whether quality assessments made by wine experts and by consumers (based on prices obtained at auction between 1980 and 1992) can be explained by variables describing endowments (land characteristics, exposures of vineyards) and technologies (from grape varieties and picking, to bottled wines). However, since technological choices are likely to depend on endowments, the effects can only be identified using an instrumental variables approach. We show that technological choices affect q...
作者：Ali, Hela Hadj; Lecocq, Sebastien; Visser, Michael
作者单位：INRAE; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics
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 gra...
