Wine Quality and Varietal, Regional, and Winery Reputations: Hedonic Prices for Australia and New Zealand

Schamel, Guenter; Anderson, Kym

doi:10.1142/9789813232754_0002

Cited by 11 publications

(17 citation statements)

References 9 publications

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“…This database has been employed extensively in previous studies (e.g. Schamel & Anderson, 2003;Oczkowski, 2018) and is considered to be the most definitive and bestselling guide of Australian wines. Halliday (2017) employs a 100 point scale.…”

Section: Data and Empirical Specificationmentioning

confidence: 99%

“…From the demand side, at least two arguments can be offered. Oczkowski (1994), Schamel and Anderson (2003) and others have argued that the use of market leading publically available expert ratings acts as opinion leadership which may drive consumer demand and hence impact consumer price bids. While others have argued that some expert ratings may represent an unbiased indicator of average consumer preferences (Costanigro et al, 2010).…”

Section: Introductionmentioning

confidence: 99%

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Community and Expert Wine Ratings and Prices

Oczkowski

Pawsey

2019

J of App Econs and Policy

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This paper assesses the relative impact community consumer ratings and expert ratings have on Australian wine prices. Results suggest community ratings may better explain price variations than expert scores; however, the performance difference is not definitive. Expert scores are found to have some additional unique power beyond community ratings in explaining prices. These results hold for both models based on current quality and reputation ratings and a number of robustness checks. The results suggest that producers may need to monitor both expert and community assessments of wines based on numerous vintages to accurately assess wine prices.

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Section: Data and Empirical Specificationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Community and Expert Wine Ratings and Prices

Oczkowski

Pawsey

2019

J of App Econs and Policy

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“…Nevertheless, the perception of wine and winemaking as intimately related to the provenance of grape cultivation is not entirely without justification and there remains a strong regional identity to much of the industry, most evident in the reputation of certain winemaking regions and localities. If the relationship between provenance and quality has weakened over recent decades (Moran, 1993;Giraud-Heraud et al, 1998;Vaudour, 2002), it remains widely used by consumers to differentiate between wines not only from traditional European winemaking regions, but also from those regions that pioneered the use of alternative indicators of quality such as cultivars and wine brands to shape consumer expectations (Bailly, 2000;Schamel & Anderson, 2003).…”

Section: Adaptive Decision-makingmentioning

confidence: 99%

“…Viticulture has been used as an indicator of both historic (Chuine et al, 2004;Meier et al, 2007) and contemporary climate change (Rodo & Comin, 2000;Duchêne & Schneider, 2005;Bock et al, 2011), and has become a cause c el ebre within the global change biology literature. Studies suggest major changes to the suitability of existing viticulture regions or grapevine cultivars, which implies significant social and economic consequences for a global industry in which cultivar and provenance are key indicators of product value and typicity (Bailly, 2000;Schamel & Anderson, 2003).…”

Section: Introductionmentioning

confidence: 99%

Climate change impacts and adaptive strategies: lessons from the grapevine

Mosedale

Abernethy

Smart³

et al. 2016

Global Change Biology

134

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The cultivation of grapevines for winemaking, known as viticulture, is widely cited as a climate-sensitive agricultural system that has been used as an indicator of both historic and contemporary climate change. Numerous studies have questioned the viability of major Accepted ArticleThis article is protected by copyright. All rights reserved.viticulture regions under future climate projections. We review the methods used to study the impacts of climate change on viticulture in the light of what is known about the effects of climate and weather on the yields and quality of vineyard harvests. Many potential impacts of climate change on viticulture, particularly those associated with a change in climate variability or seasonal weather patterns, are rarely captured. Key biophysical characteristics of viticulture are often unaccounted for, including the variability of grapevine phenology and the exploitation of microclimatic niches that permit successful cultivation under sub-optimal macroclimatic conditions. We consider how these same biophysical characteristics permit a variety of strategies by which viticulture can adapt to changing climatic conditions. The ability to realise these strategies, however, is affected by uneven exposure to risks across the winemaking sector, and the evolving capacity for decision-making within and across organizational boundaries. The role grape provenance plays in shaping perceptions of wine value and quality, illustrates how conflicts of interest influence decisions about adaptive strategies within the industry. We conclude by considering what lessons can be taken from viticulture for studies of climate change impacts and the capacity for adaptation in other agricultural and natural systems.

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“…Oczkowski and Doucouliagos () review many of these articles in a meta‐analysis of the price–quality relationship. Attributes typically examined include grape variety, appellation, vintage, expert rating, and number of cases produced (Bombrun and Sumner, ; Oczkowski, ; Schamel and Anderson, ). Occasionally chemical or sensory characteristics augment the set of attributes (Jones and Storchmann, ).…”

Section: Applied Hedonic Pricing Studiesmentioning

confidence: 99%

Consumer sorting and hedonic valuation of wine attributes: exploiting data from a field experiment

Gustafson

Lybbert

Sumner

2016

Agricultural Economics

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This article uses a novel experimental approach to measure consumer willingness to pay (WTP) for wine attributes. We invited customers of a local supermarket who had selected a bottle of wine to purchase to participate in a valuation experiment. Integrating their original wine choice into the experiment, each participant evaluated six alternative wines, generating a rich set of data on willingness to pay and consumer characteristics. The data from the experiment allow us to compare standard shelf price-based wine attribute valuation estimates with estimates using WTP data and an increasing amount of information about individual consumers. The full model employs individual fixed effects to estimate WTP parameters without bias from consumer sorting or supply side influences. Our WTP estimates for wine attributes differ markedly from previous attribute value estimates. Consumers in our sample display clear and stable preferences for wine varieties, but less clear preferences for appellations. Our results suggest caution is needed in using market prices to estimate parameters of the consumer valuation function for product attributes. JEL classifications: C93, D12, L66

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Wine Quality and Varietal, Regional, and Winery Reputations: Hedonic Prices for Australia and New Zealand

Cited by 11 publications

References 9 publications

Community and Expert Wine Ratings and Prices

Community and Expert Wine Ratings and Prices

Climate change impacts and adaptive strategies: lessons from the grapevine

Consumer sorting and hedonic valuation of wine attributes: exploiting data from a field experiment

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