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The Effect of Weather on Wine Quality and Prices: An Australian Spatial Analysis

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  • Oczkowski, Edward

Abstract

In the context of the important implications of climate change, this paper analyzes the impact of weather on wine quality and prices for Australian premium wines. Motivated by a recognition of consumers’ accessed information sets, the impact of temperature and rainfall on retail wine prices is assessed through their relation with quality ratings from a high-profile wine guide and then on prices. For a broad spectrum of different quality wines from a cross section of wines available in 2014 and a separate analysis of eight wine varieties, the indirect approach to modeling weather effects through wine quality is found to be superior than assuming weather impacts directly on retail prices. The results also demonstrate the importance of regional variations in weather conditions in influencing prices and identify the optimal season growing temperatures for different grape varieties. (JEL Classifications: Q13, Q54)

Suggested Citation

  • Oczkowski, Edward, 2016. "The Effect of Weather on Wine Quality and Prices: An Australian Spatial Analysis," Journal of Wine Economics, Cambridge University Press, vol. 11(1), pages 48-65, May.
    • Handle: RePEc:cup:jwecon:v:11:y:2016:i:01:p:48-65_00
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    Citations

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    Cited by:

    1. German Puga & Kym Anderson & Gregory Jones & Richard Smart, 2022. "Climate Change and the Evolving Mix of Grape Varieties in Australia’s Wine Regions: Are They Related?," Wine Economics Research Centre Working Papers 2022-01, University of Adelaide, Wine Economics Research Centre.
    2. Oczkowski, Edward, 2022. "Estimating Supply Functions for Wine Attributes: A Two-Stage Hedonic Approach," Journal of Wine Economics, Cambridge University Press, vol. 17(1), pages 1-26, February.
    3. Amogh Prakasha Kumar & Richard Watt & Laura Meriluoto, 2021. "New Evidence on Using Expert Ratings to Proxy for Wine Quality in Climate Change Research," Working Papers in Economics 21/10, University of Canterbury, Department of Economics and Finance.
    4. 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.
    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.

    More about this item

    JEL classification:

    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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