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The Value of Terroir: Hedonic Estimation of Vineyard Sale Prices / Robin Cross, Andrew J. Plantinga, Robert N. Stavins.
- Format:
- Book
- Author/Creator:
- Cross, Robin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w16762.
- NBER working paper series no. w16762
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- The Value of Terroir
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2011.
- Summary:
- 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.
- Notes:
- February 2011.
- Print version record
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