An Investigation into the Determinants of Quality of Wines
Marco Delmastro ()
L'industria, 2007, issue 1, 61-84
Wine is a product characterized by the existence of both significant differences in quality and asymmetric information between producers and consumers. In this context there is a natural incentive for wineries to market poor quality wines. However, evidence shows that wine markets are populated by high quality wines, as well as lower quality products. In fact, in wine markets there have emerged responses at three different levels: institutional, collective (provided by a coalition of agents), and individual (provided by single agents). In this paper, we study (a combination of four) quality ratings as dependent variables, regressing them on a large number of explanatory variables. Collected data allow us to test the effect on different measures of quality of a series of wine- and winery-dependent factors. In particular, we test the effect of the following elements: classification, appellation (collective reputation), individual reputation, agronomical and oenological improvements, ownership structure, owner preferences.
Keywords: Wine; Asymmetric Information; Classification; Reputation; Quality (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:mul:j0hje1:doi:10.1430/24255:y:2007:i:1:p:61-84
Access Statistics for this article
L'industria is currently edited by Patrizio Bianchi
More articles in L'industria from Società editrice il Mulino
Bibliographic data for series maintained by ().