Mesure des interactions de prix: une analyse des modalités de substitution parmi sept vins de Bordeaux

Florine Livat

Economie & Prévision, 2007, vol. n° 180-181, issue 4, 127-145

Abstract: Do the registered designations of origin (Appellations d'Origine Contrôlée: AOCs) in the Bordeaux winegrowing districts function as independent markets? On what basis do consumers substitute Bordeaux wines with one another? We address these questions by studying the cointegration relationships that drive a price vector for seven Bordeaux AOCs. Empirical analysis shows that consumers do not switch between Bordeaux wines on the basis of objective criteria. On the contrary, they substitute wines on the basis of their perceived quality. Some of the substitutes display intrinsically divergent characteristics. The Bordeaux wine market is thus segmented by reputation.

Keywords: substitution; cointégration multivariée; prix; vins de Bordeaux (search for similar items in EconPapers)
Date: 2007
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