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http://hdl.handle.net/10419/53179
  
Title:The value of terroir: Hedonic estimation of Vineyard sale prices PDF Logo
Authors:Cross, Robin
Plantinga, Andrew J.
Stavins, Robert N.
Issue Date:2011
Series/Report no.:Nota di Lavoro, Fondazione Eni Enrico Mattei: Sustainable development 12.2011
Abstract:We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect, elevation, and soil types, or designated appellations are more important determinants of price. We find that prices are strongly determined by sub-AVA appellation designations, but not by specific site attributes. These results indicate that the concept of terroir matters economically, although the reality of terroir as proxied for by locational attributes is not significant.
Subjects:Wine
Vineyard
JEL:C2
Q11
Document Type:Working Paper
Appears in Collections:FEEM Working Papers, Fondazione Eni Enrico Mattei

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