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What determines the future value of an icon wine? new evidence from Australia

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Date

Authors

Wood, Danielle
Anderson, Kym

Journal Title

Journal ISSN

Volume Title

Publisher

American Association of Wine Economists

Abstract

To 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.

Description

Keywords

price, icon, wines, regression, model, Australian, red, variation, vintages, market, secondary

Citation

URI

http://hdl.handle.net/1885/107147

Collections

ANU Research Publications

Source

Journal of Wine Economics

Type

Journal article

Book Title

Entity type

Access Statement

License Rights

DOI

10.1017/S1931436100000171

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