 The Impact of Gurus: Parker Grades and En Primeur Wine PricesHéla Hadj 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. Date: 2008 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wly:econjl:v:118:y:2008:i:529:p:f158-f173 Ordering information: This journal article can be ordered from Access Statistics for this article Economic Journal is currently edited by Estelle Cantillon, Martin Cripps, Andrea Galeotti, Morten Ravn, Kjell G. Salvanes, Frederic Vermeulen, Hans-Joachim Voth and Rachel Kranton More articles in Economic Journal from Royal Economic Society Contact information at EDIRC. |
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