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Home
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JWE-Articles
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Journal of Wine Economics Volume 8 | 2013 | No. 1
»
The Price Premium for Organic Wines: Estimating a Hedonic Farm-Gate Price Equation

The Price Premium for Organic Wines: Estimating a Hedonic Farm-Gate Price Equation

Alessandro Corsi and Steinar Strøm
JEL Clasification: C21, D49, L11, Q12
Pages: 29-48
Abstract
Organic wines are increasingly produced and appreciated. Because organic production is more costly, a crucial question is whether they benefit from a price premium. We estimate hedonic price functions for Piedmont organic and conventional wines. We use data on the production side in addition to variables of interest to consumers. Our results show that, along with characteristics of interest to consumers, some farm and producer characteristics not directly relevant for consumers do significantly affect wine prices. We find that organic wine tends to obtain higher prices than conventional wine. The price premium is not simply an addition to other price components; organic quality modifies the impact of the other variables on price.

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