文章基本信息

标题：Predicting the quality and prices of Bordeaux wines
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作者：Ashenfelter, Orley
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2007
出版社：Journal of Agribusiness
摘要：Bordeaux wines have been made in much the same way for centuries. This article shows that the variability in the quality and prices of Bordeaux vintages is predicted by the weather that created the grapes. The price equation provides a measure of the real rate of return to holding wines (about 2–3% per annum) and implies far greater variability in the early or ‘en primeur’ wine prices than is observed. The analysis provides a useful basis for assessing market inefficiency, the effect of climate change on the wine industry and the role of expert opinion in determining wine prices.
关键词：wine quality;wine prices;weather;Bordeaux wine;wine auctions