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A Hedonic Price Function For Australian Premium Table Wine

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  • Edward Oczkowski

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.
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  • 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.
    • Handle: RePEc:bla:ajarec:v:38:y:1994:i:1:p:93-110
    DOI: j.1467-8489.1994.tb00721.x
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