The Impact of Gurus: Parker Grades and "En Primeur" Wine Prices

HélaHadj Ali, Sébastien Lecocq and Michael Visser

Economic Journal, 2008, vol. 118, issue 529, F158-F173

Abstract: This article looks at the impact of Robert Parker's oenological grades on the so-called "en primeur" prices of young Bordeaux wines. The Parker grades are usually published in the spring of each year, before the wine prices are established. However, the wine grades for 2003 were published much later, in the autumn, "after" the determination of prices. This unusual reversal is exploited to estimate a Parker effect which we find to be, on average, worth 2.80 euros per bottle of wine. We also use grade-specific effects to predict what prices would have been had Parker attended the 2003 spring tasting. Copyright © The Author(s). Journal compilation © Royal Economic Society 2008.

Date: 2008
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Related works:
Journal Article: The Impact of Gurus: Parker Grades and en primeur Wine Prices* (2010)
Journal Article: The Impact of Gurus: Parker Grades and En Primeur Wine Prices (2008)
Working Paper: The Impact of Gurus: Parker Grades and EN PRIMEUR Wine Prices (2007)
Working Paper: The impact of gurus: Parker grades and en primeur wine prices¤ (2007)
Working Paper: The impact of gurus: Parker grades and en primeur wine prices (2005)
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