What Determines the Future Value of an Icon Wine? New Evidence from Australia
The Australian wine auction market is characterised by large variations in price between different vintages of the same wine. Yet the release prices of those wines exhibit considerably less volatility. This paper addresses the question: to what extent can we anticipate the future price of such icon wines from information available at the time of release? Specifically, it looks at the importance of the weather conditions during the grape-growing season. A hedonic model is estimated to...[Show more]
|Collections||ANU Research Publications|
|Source:||Centre for International Economic Studies, Discussion Paper No. 0233|
|01 Wood and Anderson What determines the future 2002.pdf||7.53 MB||Adobe PDF||Request a copy|
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