Author:
Wood Danielle,Anderson Kym
Abstract
AbstractTo what extent can the future price of icon wines be anticipated from information available at the time of their initial sale by wineries? Using a seemingly unrelated regression model we show that weather variables and changes in production techniques, along with the age of the wine, have significant power in explaining the secondary market price variation across different vintages of each of three icon Australian red wines. The results have implications for winemakers in determining the prices they pay for grapes and charge for their wines, and for consumers/wine investors as a guide to the prospective quality of immature icon wines. (JEL codes: C23, D12, D44, D80, G12)
Publisher
Cambridge University Press (CUP)
Subject
Horticulture,General Business, Management and Accounting,Food Science
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2. Fogarty J. (2000). Prices, age and weather. Unpublished Honours thesis, School of Economics, University of Western Australia, Perth.
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