A HEDONIC PRICE FUNCTION FOR AUSTRALIAN PREMIUM TABLE WINE

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Abstract

A hedonic price function, relating the price of Australian wine to its attributes, is estimated. Six attribute groups are found to be statistically important in explaining deviations from average wine prices, i.e., quality, cellaring potential, grape variety/style, grape region, grape vintage and producer size. Various interaction terms between these variables and the impact of the year of marketing are also modelled. The consequent marketing implications for producers and consumers are discussed. 1994 The Australian Agricultural Economics Society

Original languageEnglish
Pages (from-to)93-110
Number of pages18
JournalAustralian Journal of Agricultural Economics
Volume38
Issue number1
DOIs
Publication statusPublished - Apr 1994

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