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Semiparametric versus parametric hedonic wine price models: an empirical investigation

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  • Lester M. K. Kwong
  • Tomson Ogwang
  • Ling Sun

Abstract

In this article, we conduct formal statistical tests to compare a semiparametric hedonic wine price model with its parametric counterpart using a Canadian data set. The relevant test results turn out to be overwhelmingly in favour of the semiparametric specification. The estimated semiparametric model also provides clear evidence of nonlinearity between wine prices and quality when other wine attributes are controlled for.

Suggested Citation

  • Lester M. K. Kwong & Tomson Ogwang & Ling Sun, 2017. "Semiparametric versus parametric hedonic wine price models: an empirical investigation," Applied Economics Letters, Taylor & Francis Journals, vol. 24(13), pages 897-901, July.
    • Handle: RePEc:taf:apeclt:v:24:y:2017:i:13:p:897-901
    DOI: 10.1080/13504851.2016.1240330
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    Cited by:

    1. 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.

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