Hedonic wine price predictions and nonnormal errors

Agribusiness

Volumn 26, Issue 4, 2010, Pages 519-535

  Oczkowski, Edward ^a  

^a CHARLES STURT UNIVERSITY   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 78651504082     PISSN: 07424477     EISSN: 15206297     Source Type: Journal    
DOI: 10.1002/agr.20237     Document Type: Article

References (36)

1. Addison, J.T., & Portugal, P. (1987). On the distributional shape of unemployment duration. Review of Economics and Statistics, 69, 520-526.
2. Aptech (2007). Gauss 8.0, Maple Valley: Aptech System Inc.
3. Bai, J., & Perron, P. (2003). Computation and analysis of multiple structural change models. Journal of Applied Econometrics, 18, 1-22.
4. Byron, R.P., & Ashenfelter, O. (1995). Predicting the quality of an unborn grange. Economic Record, 71, 40-53.
5. Cameron, T.A., & White, K.J. (1990). Generalized gamma family regression models for long distance telephone call durations. In A. De Fontenay, M. Shugard, & D. Sibley (Eds.), Telecommunications demand modelling: An integrated view (pp. 333-350). Amsterdam: North-Holland.
6. Clark, T.E. (1999). Finite-sample properties of tests for equal forecast accuracy. Journal of Forecasting, 18, 489-504.
7. Clemen, R.T. (1989). Combining forecasts: A review and annotated bibliography. International Journal of Forecasting, 5, 598-620.
8. Combris, P., Lecocq, S., & Visser, M. (1997). Estimation for a hedonic price equation for Bordeaux wine: Does quality matter? Economic Journal, 107(441), 390-402.
9. Costanigro, M., McCluskey, J.J., & Mittelhammer, R.C. (2007). Segmenting the wine market based on price: Hedonic regression when different prices mean different products. Journal of Agricultural Economics, 58, 454-466.
10. Diebold, F.X., & Mariano, R.S. (1995). Comparing predictive accuracy. Journal of Business and Economics Statistics, 13, 253-263.
11. Fogarty, J. (2003). Australian premium wine prices: Do quality ratings matter? Western Australian Quarterly Bulletin of Economic Trends, 3(4), 41-64.
12. Fogarty, J. (2006). The return to Australian fine wine. European Review of Agricultural Economics, 33, 542-561.
13. Gergaud, O., Guzman, L.M., & Verardi, V. (2007). Stardust over Paris gastronomic restaurants. Journal of Wine Economics, 2, 24-39.
14. Granger, C.W.J., & Ramanathan, R. (1984). Improved methods of combining forecasts. Journal of Forecasting, 3, 197-204.
15. Halliday, J. (2007). Australian Wine Companion, 2008 ed. Sydney: Harper Collins.
16. Jackson, T. (2009). Australian Wine Grape Production Projections to 2010-11 (ABARE Research Report 09.7). Canberra: Australian Bureau of Agricultural and Resource Economics.
17. Kalbfleisch, J.D., & Prentice, R.L. (1980). The statistical analysis of failure time data. New York: Wiley.
18. Lambert, D.R. (1980). Price as a quality signal: The tip of the iceberg. Economic Inquiry, 18, 144-150.
19. Lancaster, T. (1990). The econometric analysis of transition data. Cambridge: Cambridge University Press.
20. Landon, S., & Smith, C.E. (1998). Quality expectations, reputation and price. Southern Economic Journal, 64, 628-647.
21. Lawless, J.F. (1982). Statistical models and methods for lifetime data. New York: Wiley.
22. Lecocq, S., & Visser, M. (2006). What determines wine prices: Objective vs. sensory characteristics. Journal of Wine Economics, 1, 42-56.
23. McDonald, J.B. (1984). Some generalized functions for the size distribution of income. Econometrica, 52, 647-663.
24. Nerlove, M. (1995). Hedonic price functions and the measurement of preferences: The case of Swedish wine consumers. European Economic Review, 39, 697-1716.
25. Oczkowski, E. (1994). A hedonic price function for Australian premium table wine. Australian Journal of Agricultural Economics, 38, 93-110.
26. Oczkowski, E. (2001). Hedonic wine price functions and measurement error. Economic Record, 77, 374-382.
27. Oren, S., Smith, S., & Wilson, R. (1984). Pricing a product line. Journal of Business, 57, S73-S99.
28. Priilaid, D.A., & van Rensburg, P. (2006). Non-linearity in the hedonic pricing of South African red wines. International Journal of Wine Marketing, 18, 166-182.
29. Schamel, G. (2006). Geography versus brands in a global wine market. Agribusiness, 22, 363-374.
30. Schamel, G. (2009). Dynamic analysis of brand and regional reputation: The case of wine. Journal of Wine Economics, 4, 62-80.
31. Schamel, G., & Anderson, K. (2003). Wine quality and varietal, regional and winery reputations: Hedonic prices for Australia and New Zealand. Economic Record, 79(246), 357-369.
32. Stavins, J. (1995). Model entry and exit in a differentiated-product industry: The personal computer market. Review of Economics and Statistics, 77, 571-584.
33. Steiner, B. (2004). Australian wines in the British wine market: A hedonic price analysis. Agribusiness, 20, 287-307.
34. Swaim, P., & Podgursky, M. (1992). The distributional shape of unemployment duration: A reconsideration. Review of Economics and Statistics, 74, 712-717.
35. Van Rensburg, P., & Priilaid, D.A. (2004). An econometric model for identifying value in South African red wine. International Journal of Wine Marketing, 16, 53-75.
36. Wooldridge, J.M. (2006). Introductory econometrics: A modern approach (3rd ed.). Mason, OH: Thomson South-Western Educational Publishing.