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What determines Port Wine prices?

Title
What determines Port Wine prices?
Type
Article in International Scientific Journal
Year
2007
Authors
Rui Couto Viana
(Author)
FEP
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Lúcia Lima Rodrigues
(Author)
Other
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Journal
ISSN: 1931-4361
Scientific classification
FOS: Social sciences > Economics and Business
CORDIS: Social sciences > Economics > Management studies
Other information
Abstract (EN): In this study, we estimate a cross-sectional hedonic price function for Port wines in order to determine the price influence of several Port wine characteristics. Drawing on a large sample of more than 14,000 sales from the biggest Port wine firms we find that market prices can be explained by objective characteristics such as age, type of Port and type of brand appearing on the bottle label and subjective characteristics such as firm reputation. The Port type is the main price determinant.
Language: English
Type (Professor's evaluation): Scientific
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