Purpose – The purpose of this paper is to focus on high segments of the Italian olive oil and wine markets. The main goal is to compare the role and the effectiveness of the certification of origin in the creation of value in the two selected markets. Moreover, the authors investigate how different quality clues in the olive oil and wine sectors are related to prices. Design/methodology/approach – To meet the goal the authors estimate two separate hedonic price models where the price of the product is regressed over different quality clues some of which are sector specific and some are common to the two sectors. The models are estimated on data which come from two of the major Italian guides chosen for their well established reputation and for the richness of information. Findings – The results indicate that: product origin and the relative certification schemes play a relevant role in the formation of prices in both markets; while the olive oil price seems to be more sensitive to farm location than to the certification of origin, the opposite happens for the wines; the higher segments of the Italian olive oil market is increasingly sophisticated and follows the main tendencies established in the quality wine markets where many quality attributes are intensely active. Research limitations/implications – First, it should be kept in mind that results for higher market segment may not hold for different segments where relevant quality clues may be different. Second, reader should be aware that comparability of the two samples is constrained by limited data availability for the olive oil sector compared to the wine sector. Originality/value – This study represents one of the first attempts to compare the role of the certification of origin in the creation of value in the Italian agro-food markets.

Protected designations of origin (PDOs) and protected geographical indications (PGIs) for food products are used by the European Union with the goal of achieving several policy objectives. We build a multi-criteria analysis framework for ex post assessment of the performance of PDOs. The performance criteria are based on five policy objectives, as defined by European policy makers in regulations, with each criterion measured by a set of indicators. We apply the framework to analyze the performance of all Italian PDO cheeses and olive oils from 2004 to 2008. The results show that for the PDOs studied it is feasible, in general, to perform on all five objectives at the same time, although partial tradeoffs are present between the bargaining power and local development objectives on one side and the market performance objective on the other. A ranking of PDOs in the two sectors on all objectives using multi-criteria analysis and equal weights on all objectives shows overall higher performance for smaller PDOs that are well rooted in the territory of origin and targeted to niche market segments. Lower ranked PDOs under this scenario tend to be bigger, older, and better established in wider markets. Alternative weighting scenarios that emphasize niche/local market PDOs or market performing PDOs yield different relative rankings. The results provide insights for both policy makers and stakeholders into the evaluation of PDO policy, as well as into the performance of individual PDO products

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Summary One of the aims of the post‐2020 Common Agricultural Policy (CAP) is to improve the resilience of Europe's farming systems. The CAP of the budget period 2014–2020, however, has insufficiently supported the resilience of farming systems. The ongoing CAP reform process offers an appropriate opportunity to integrate a broader perspective on resilience in the CAP. We therefore propose a set of policy recommendations on how to improve the capability of the CAP to support more fully the resilience (i.e. robustness, adaptability and transformability) of farming systems in the EU. The policy recommendations are based on a comparative analysis of six national co‐design workshops with stakeholders and a final EU‐level workshop with Brussels‐based experts. We concluded three key lessons about the CAP's influence on resilience: (1) resilience challenges, needs and policy effects are context‐specific; (2) resilience capacities are complementary, but trade‐offs between robustness, adaptability and transformability occur at the level of policies and due to budget competition; (3) there is a need for a coordinated long‐term vision for Europe's agriculture, which is difficult to achieve through the bargaining processes associated with a CAP reform. We propose specific policy recommendations that could contribute to a better balance between policies that support robustness, adaptability and transformability of Europe's farming systems.

Purpose The paper focuses on high segments of the Italian wine market. The goal is twofold. First, it aims at understanding to what extent wine experts are influenced by specific quality clues. Second, it seeks at assessing the role and effectiveness of different quality clues in the creation of price Design/methodology/approach To meet these goals two independent equations are set. The first -estimated via an ordered logit- explaining the rating of a wine with a bunch of attributes of the wine and of its production process. The second equation is a hedonic price model –estimated via an interval regression- where price is a function of a large number of quality clues. The analysis covers 2,523 wines from three Italian Regions as reviewed by Veronelli guide, 2010 edition Findings The model estimation results indicates that: i) few attributes seems to systematically impact experts’ judgments; ii) many quality clues are associated with significant price premiums; iii) in some cases consumers give value to quality clues along with Veronelli’s experts while in other cases there is no such alignment Originality/value This study advances the literature in two different ways. First, modeling two distinct equations that describe the factors affecting, on the one side, experts’ evaluations, and, on the other side, market prices. Second, as it assesses the price premium associated to quality clues whose value hasn’t been considered so far in hedonic price models. We affirm that assessing factors that influence experts brings more transparency and a better segmentation in the guide market and in all experts’ quality signals.