The impact of geographic reputation on the value created in Champagne

Australian Journal of Agricultural and Resource Economics

Volumn 58, Issue 2, 2014, Pages 171-184

  Menival, David ^a   Charters, Steve ^b  

^a NEOMA BUSINESS SCHOOL   (France)

^b BURGUNDY SCHOOL OF BUSINESS   (France)

Author keywords

Champagne; Geographic location; Reputation; Signal; Territorial brand

Indexed keywords

GEOGRAPHICAL VARIATION; PRICE DYNAMICS; VINEYARD; VITICULTURE;

EID: 84898055941     PISSN: 1364985X     EISSN: 14678489     Source Type: Journal    
DOI: 10.1111/1467-8489.12033     Document Type: Article

References (71)

1. Akerlof, G.A. (1970). The market for lemons: Quality, uncertainty, and the market mechanism, The Quarterly Journal of Economics 84(3), 488-500.
2. Alvarez, A.M., Fidalg, E.G., Sexton, R.J. and Zhang, M. (2000). Oligopsony power with uniform spatial pricing: theory and application to milk processing in Spain, European Revue of Agricultural Economics 27, 347-364.
3. American Marketing Association (2010). Marketing Power dictionary, Available from URL http://www.marketingpower.com/_layouts/Dictionary.aspx?dLetter=B [accessed 6 Jul 2010].
4. Angulo, A.M., Gil, J.M., Gracia, A. and Sanchez, M. (2000). Hedonic prices for Spanish red quality wine, British Food Journal 102(7), 481-493.
5. Ashenfelter, O., Ashmore, D. and Lalonde, R. (1995). Bordeaux wine vintage quality and the Weather, Chance 8, 7-14.
6. Barzel, Y. (1982). Measurement cost and the organization of markets, in Pejovich, S. (ed), The Economic Foundations of Property Rights - Selected Reading, Edward Elgar Publishing limited, London, pp. 171-192.
7. Bauwens, L. and Ginsburgh, V. (2000). Art experts and auctions. Are pre-sale estimates unbiased and fully informative?, Louvain Economic Review 66, 131-144.
8. Bessy, C. and Chateauraynaud, F. (1995). Economie de la perception et qualité des produits. L'exemple des contrefaçons dans le domaine agro-alimentaire, Cahiers d'Economie et de Sociologie Rurales 37, 178-199.
9. Bruwer, J. and Johnson, R. (2010). Place-based marketing and regional branding strategy perspectives in the California wine industry, Journal of Consumer Marketing 27(1), 5-16.
10. Byron, R.P. and Ashenfelter, O. (1995). Predicting the quality of an unborn grange, Economic Record 71, 40-53.
11. Charters, S. and Menival, D. (2008). A typology of small producers in the champagne industry, Fourth International Conference of the Academy of Wine Business Research, 17-19 July. Siena, Italy, AWBR.
12. Charters, S. and Menival, D. (2011). Wine tourism in Champagne, Journal of Hospitality and Tourism Research 35(1), 102-118.
13. Charters, S, Mitchell, R. and Menival, D. (2011). The territorial brand in wine, Sixth International Conference of the Academy of Wine Business Research, 9-11 June. Bordeaux, AWBR.
14. de Chernatony, L. (2009). Towards the holy grail of defining brand, Marketing Theory 9(1), 101-105.
15. de Chernatony, L. and Macdonald, M. (2003). Creating Powerful Brands. Butterworth Heinemann, Oxford.
16. Combris, P., Lecocq, S. and Visser, M. (1997). Estimation of a hedonic price equation for Bordeaux wine: does quality matter?, The Economic Journal 107, 390-402.
17. Combris, P., Lecocq, S. and Visser, M. (2000). Estimation of a hedonic price equation for Burgundy wine, Applied Economics 32, 961-967.
18. Duguid, P. (2003). Developing the brand: the case of alcohol, 1800-1880, Enterprise and Society 4(3), 405-441.
19. Faith, N. (1988). The story of Champagne. Hamish Hamilton, London.
20. Fort, F. and Fort, F. (2006). Alternatives marketing pour les produits de terroir, Revue Francaise de Gestion 32(March), 146-159.
21. Gergaud, O. (1998). Estimation d'une fonction de prix hédonistiques pour le vin de Champagne, Economie et Prévision 136, 93-105.
22. Gergaud, O. (2000). Fonction De Prix Hédonistiques et Informations Imparfaites: Le Rôle De La Réputation Sur le Marché Du Vin De Champagne. Thèse pour le doctorat en Sciences Economiques, Université de Reims, Reims.
23. Gerstner, E. (1985). Do higher prices signal higher quality?, Journal of Marketing Research 22(2), 209-215.
24. Ginsburgh, V. (2003). Awards, success and aesthetic quality in the arts, Journal of Economic Perspectives 17, 99-111.
25. Ginsburgh, V. and van Ours, J.C. (2003). Expert opinion and compensation: evidence from a musical competition, American Economic Review 93(1), 289-298.
26. Ginsburgh, V., Monzak, M. and Monzak, A. (1994). Red wines of Médoc: What is Wine Tasting Worth. Vineyard Data Quantification Society, Verona.
27. Golan, A. and Shalit, H. (1993). Wine quality differentials in hedonic grape pricing, Journal of Agricultural Economics 44(2), 311-321.
28. Greenhut, M.L. (1956). Plant Location in Theory and Practice. University of North Carolina Press, Chapel Hill.
29. Grossman, S.J. and Stiglitz, J.E. (1980). The impossibility of informational efficient markets, American Economic Review 70(3), 399-407.
30. Guy, K.M. (2003). When Champagne Became FRENCH: Wine and the Making of a National Identity. The Johns Hopkins University Press, Baltimore.
31. Hachette Wine Guide (2007). Le Guide Hachette des vins. Hachette livre (Hachette pratique), Paris.
32. Hadj Ali, H., Lecocq, S. and Wisser, M. (2008). The impact of Gurus: parker grades and en primeur wine prices, The Economic Journal 118, 158-173.
33. Hamlin, R.P. and Leith, K.J. (2006). Studying the country of origin cue in action: an experimental examination of wine evaluations in the United Kingdom New Zealand, Journal of Place Branding and Public Diplomacy 2(1), 311-320.
34. Horner, J. (2002). Reputation and competition, The American Economic Review 92(3), 644-663.
35. Horowitz, I. and Lockshin, L. (2002). What price quality? An investigation into the prediction of wine-quality ratings, Journal of Wine Research 13(1), 7-22.
36. Hotelling, H. (1929). Stability in competition, Economic Journal 39, 41-57.
37. Isard, W. (1956). Location and Space Economy. MIT-Press, Cambridge.
38. Jacoby, J., Olson, J.C. and Haddock, R.A. (1971). Price, brand name and product composition characteristics as determinants of perceived quality, Journal of Applied Psychology 55(6), 570-579.
39. Jones, G. and Storchmann, K. (2001). Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classés, Agricultural Economics 26, 115-133.
40. Jover, A.J.V., Montes, F.J.L. and Fuentes, M.D.M. (2004). Measuring perceptions of quality in food products: the case of red wine, Food Quality and Preference 15, 453-469.
41. Lachiver, M. (1991). La viticulture française à l'époque moderne. In Le vigneron, la viticulture et la vinification en Europe occidentale, au Moyen Age et à l'époque moderne, Centre culturel de l'Abbaye de Flaran, Auch.
42. Lancaster, K. (1966). A new approach to consumer theory, Journal of political Economy 74, 132-157.
43. Landon, S. and Smith, C.E. (1997). The use of quality and reputation indicators by consumers: the case of Bordeaux wine, Journal of Consumer Policy 20, 289-323.
44. Landon, S. and Smith, C.E. (1998). Quality expectations, reputation and price, Southern Economic Journal 64(3), 628-647.
45. Lecocq, S. and Visser, M. (2006). What determines wine prices: objective vs. sensory characteristics, Journal of Wine Economics 1(1), 42-56.
46. Maier, G. (2009). Spatial prices, search behaviour and location, The Annals of Regional Science 43(1), 27-48.
47. Marette, S., Cresp, J. and Schiavina, A. (1999). The role of common labelling in a context of asymmetric information, European Review of Agricultural Economics 26, 167-178.
48. Menival, D. and Charters, S. (2008). The impact of tourism on the willingness to pay for a bottle of standard quality champagne, Enometrica 1(1), 9-20.
49. Nagashima, A. (1970). A comparison of Japanese and US attitudes toward foreign products, Journal of Marketing January 34(1), 68-74.
50. Nelson, P. (1970). Information and consumer behavior, Journal of Political Economy 78, 311-329.
51. Nelson, P. (1974). Advertising as information, Journal of Political Economy 82, 729-754.
52. Nerlove, M. (1995). Hedonic price functions and the measurement of preferences, European Economic Review 39, 1697-1716.
53. Nero, G. (1998). Spatial multiproduct pricing: empirical evidence on intra-European duopoly airlinemarkets, Applied Economics 30, 465-475.
54. Oczkowski, E. (1994). A hedonic price function for Australian premium wine, Australian Journal of Agricultural Economics 38(1), 93-110.
55. Oczkowski, E. (2001). Hedonic price wine functions and measurement error, The Economic Record 77(239), 374-382.
56. Olson, J.C. (1977). Price as an informational cue. in Woodside, A., Sheth, J. and Bennett, P. (eds) Consumer and Industrial Buying Behaviour, Elsevier North-Holland, New York, pp. 267-286.
57. Olson, J.C. and Jacoby, J. (1972). Cue utilization in the quality perception process, Advances in Consumer Research 3, 167-179.
58. Perrouty, J.P., d'Hauteville, F. and Lockshin, L. (2006). The influence of wine attributes on region of origin equity: an analysis of the moderating effect of consumer's perceived expertise, Agribusiness 22(3), 323-341.
59. Quagrainie, K., McCluskey, J. and Loureiro, M. (2003). A latent structure approach to measuring reputation, Southern Economic Journal 69(4), 966-977.
60. Schamel, G. and Anderson, K. (2003). Wine quality and varietal, regional and winery reputations: hedonic prices for Australia and New Zealand, The Economic Record 79, 357-369.
61. Schooler, R.D. (1965). Product bias in the Central American common market, Journal of Marketing Research 2, 394-397.
62. Shapiro, C. (1982). Consumer information, product quality, and seller reputation, The Bell Journal of Economics 13, 20-35.
63. Smith, D.M. (1971). Industrial Location: An Economic Geographical Analysis. Wiley, New York.
64. Spence, M. (1973). Job market signaling, Quarterly Journal of Economics 87(3), 355-374.
65. Spence, M. (1976). Product selection, fixed costs, and monopolistic competition, The Review of Economic Studies 43(2), 217-235.
66. Steenkamp, J.-B.E.M. (1989). Product Quality. Van Gorcum, Assen.
67. Tadelis, S. (1999). What's in a name? Reputation as a tradeable asset, The American Economic Review 89(3), 548-563.
68. Van Ittersum, K., Candel, M.J. and Meulenberg, M.T.G. (2003). The influence of the image of a product's region of origin on product evaluation, Journal of Business Research 56, 215-226.
69. Verlegh, P.W.J. and Steenkamp, J.-B.E.M. (1999). A review and meta-analysis of country-of-origin research, Journal of Economic Psychology 20(5), 521-546.
70. Viscusi, W.K. (1978). A note on "lemons" markets with quality certification, Bell Journal of Economics 9(1), 277-279.
71. Zeithaml, V.A. (1988). Consumer perceptions of price, quality, and value: a means-end model and synthesis of evidence, Journal of Marketing 52(July), 2-22.