The Impact of Gurus: Parker Grades and EN PRIMEUR Wine Prices

Hela Hadj Ali-Kein, Sébastien Lecocq and Michael Visser

No 37292, Working Papers from American Association of Wine Economists

Abstract: The purpose of this paper is to measure the impact of Robert Parker's oenological grades on Bordeaux wine prices. We study their impact on the so-called en primeur wine prices, i.e., the prices determined by the chateau owners when the wines are still extremely young. The Parker grades are usually published in the spring of each year, before the wine prices are established. However, the wine grades attributed in 2003 have been published much later, in the autumn, after the determination of the prices. This unusual reversal is exploited to estimate a Parker effect. We found that, on average, the effect is equal to 2.80 euros per bottle of wine. We also estimate grade-specific effects, and use these estimates to predict what the prices would have been had Parker attended the spring tasting in 2003.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 25
Date: 2007-04
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Citations: View citations in EconPapers (5)

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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)
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 (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aawewp:37292

DOI: 10.22004/ag.econ.37292

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