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The impact of gurus : Parker grades and "en primeur" wine prices

Abstract : His chapter 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.
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https://hal.inrae.fr/hal-02928050
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Submitted on : Wednesday, September 2, 2020 - 11:29:04 AM
Last modification on : Friday, April 23, 2021 - 3:37:13 AM

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  • HAL Id : hal-02928050, version 1
  • PRODINRA : 432373

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Héla Hadj Ali, Sébastien Lecocq, Michael Visser. The impact of gurus : Parker grades and "en primeur" wine prices. Handbook of the Economics of Wine, 1/May 2018, World Scientific, pp.584, 2018, 9814740594. ⟨hal-02928050⟩

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