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A Hedonic Pricing Model for German Wine

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  • Schamel, Guenter
Abstract
We develop a hedonic pricing model for German quality wine. Quality indicators for 4,141 wines are sensory awards received at the annual German wine competition and the legally required quality category as well as a set of control variables including regional origin, color, style, and their age at the time of judging. The data confirms that sensory quality awards have a significant and positive price impact. Moreover, we estimate significant relative differences between quality categories, growing regions and most of the control variables.

Suggested Citation

  • Schamel, Guenter, 2003. "A Hedonic Pricing Model for German Wine," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 52(05), pages 1-8.
    • Handle: RePEc:ags:gjagec:97975
    DOI: 10.22004/ag.econ.97975
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    References listed on IDEAS

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    1. Edward Oczkowski, 1994. "A Hedonic Price Function For Australian Premium Table Wine," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 38(1), pages 93-110, April.
    2. A. Golan & H. Shalit, 1993. "Wine Quality Differentials In Hedonic Grape Pricing," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(2), pages 311-321, May.
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    4. Nerlove, Marc, 1995. "Hedonic price functions and the measurement of preferences: The case of Swedish wine consumers," European Economic Review, Elsevier, vol. 39(9), pages 1697-1716, December.
    5. Landon, Stuart & Smith, Constance, 1997. "The Use of Quality and Reputation Indicators by Consumers: The Case of Bordeaux Wine," MPRA Paper 9283, University Library of Munich, Germany.
    6. Combris, Pierre & Lecocq, Sebastien & Visser, Michael, 1997. "Estimation for a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter?," Economic Journal, Royal Economic Society, vol. 107(441), pages 390-402, March.
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    1. Schamel, Günter, 2005. "German Wine: Measurement and Evaluation of Product Quality," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 40, March.
    2. Beckert, Jens & Rössel, Jörg & Schenk, Patrick, 2014. "Wine as a cultural product: Symbolic capital and price formation in the wine field," MPIfG Discussion Paper 14/2, Max Planck Institute for the Study of Societies.
    3. Jacobo Núñez & David Martín‐Barroso & Francisco J. Velázquez, 2024. "The hedonic price model for the wine market: A systematic and comparative review of the literature," Agricultural Economics, International Association of Agricultural Economists, vol. 55(2), pages 247-264, March.
    4. Pomarici, Eugenio & Caracciolo, Francesco & Cembalo, Luigi, 2012. "Price Heterogeneity and Vine Homogeneity: An Ordered Logit Hedonic Price Estimation," 2012 International European Forum, February 13-17, 2012, Innsbruck-Igls, Austria 144957, International European Forum on System Dynamics and Innovation in Food Networks.
    5. Oczkowski, Edward, 2019. "The relation between Australian wine show results and prices," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(2), July.
    6. Brunke, Henrich & Lapsley, James T. & Mueller, Rolf A.E. & Tauscher, Ludwig, 2016. ""Tested Quality In The Glass": Wine Quality Certification In Germany," Working Papers 234641, American Association of Wine Economists.
    7. Catherine Haeck & Giulia Meloni & Johan Swinnen, 2019. "The Value of Terroir: A Historical Analysis of the Bordeaux and Champagne Geographical Indications," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 41(4), pages 598-619, December.
    8. Prdić, Nedeljko & Kuzman, Boris & Barjaktarović, Miljana, 2014. "Practical Research Results Of A Successful Company’S Appearance At The Fair," Economics of Agriculture, Institute of Agricultural Economics, vol. 61(4), pages 1-12, December.
    9. repec:lic:licosd:40818 is not listed on IDEAS
    10. Bleich, Simon & Herrmann, Roland, 2013. "Price versus Non-price Incentives for Participation in Quality Labeling: The Case of the German Fruit Juice Industry," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 4(1), pages 1-13, July.
    11. Liang, Jiaji & Hu, Wuyang, 2018. "Hedonic Price Analysis: A View of the Wine Industry in Kentucky," 2018 Annual Meeting, August 5-7, Washington, D.C. 274050, Agricultural and Applied Economics Association.
    12. Rössel, Jörg & Beckert, Jens, 2012. "Quality classifications in competition: Price formation in the German wine market," MPIfG Discussion Paper 12/3, Max Planck Institute for the Study of Societies.
    13. García Arancibia, Rodrigo & Rossini, Gustavo & Depetris Guiguet, Edith, 2015. "Wine Label Descriptors and Shelf Price Paid by Argentine Consumers," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 16(2), pages 1-17.
    14. Fedoseeva, Svetlana, 2020. "(Dynamic) willingness to pay and e-commerce: Insights from sparkling wine sector in Russia," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).

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