The origin and price of status evidence from fine wines of Pauillac and Pomerol

Masset, Philippe (Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland) ; Weisskopf, Jean-Philippe (Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland)

The objective of this paper is to assess the precise impact of status on prices of Bordeaux fine wines. We identify several variables that can be used to model a wine’s status and make use of the coexistence of the longstanding 1855 classification in Pauillac and the very short-lived 1943 classification in Pomerol to examine the effect of status on the wine market. Overall, we show that quality, reputation and status jointly contribute at explaining wine prices. Status-related variables have a highly significant impact on Pomerol wines for which a current classification system is inexistent, while in Pauillac status is subsumed by the 1855 classification.


Mots-clés:
Type de conférence:
full paper
Faculté:
Economie et Services
Ecole:
EHL Ecole hôtelière de Lausanne
Classification:
Economie/gestion
Adresse bibliogr.:
Padua, Italy, 28 June – 2 July 2017
Date:
Padua, Italy
28 June – 2 July 2017
2017
Pagination:
24 p.
Titre du document hôte:
Proceedings of the 11th Annual American Association of Wine Economists (AAWE) Conference 2017
Le document apparaît dans:

Note: The status of this file is: restricted


 Notice créée le 2017-10-27, modifiée le 2018-07-09

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