NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Value of Terroir: Hedonic Estimation of Vineyard Sale Prices

Robin Cross, Andrew J. Plantinga, Robert N. Stavins

NBER Working Paper No. 16762
Issued in February 2011
NBER Program(s):   EEE

We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect, elevation, and soil types, or designated appellations are more important determinants of price. We find that prices are strongly determined by sub-AVA appellation designations, but not by specific site attributes. These results indicate that the concept of terroir matters economically, although the reality of terroir – as proxied for by locational attributes – is not significant.

download in pdf format
   (215 K)

email paper

This paper is available as PDF (215 K) or via email.

Acknowledgments

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w16762

Published: AThe Value of Terroir: Hedonic Estimation of Vineyard Sale Prices.@ Journal of Wine Economics, Volume 6, Number 1, 2011, pp. 1-14. With R. Cross and A.J. Plantinga. [A-67]

Users who downloaded this paper also downloaded these:
Goodwin, Mishra, and Ortalo-Magné w16693 The Buck Stops Where? The Distribution of Agricultural Subsidies
Ligon w16709 Supply and Effects of Specialty Crop Insurance
Thorbecke Introduction to "The Role of Agriculture in Economic Development"
Tostlebe Physical Capital per Farm and per. Person Engaged in Farming
Bishop and Timmins w17611 Hedonic Prices and Implicit Markets: Estimating Marginal Willingness to Pay for Differentiated Products Without Instrumental Variables
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us