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The Value of Terroir: A Historical Analysis of the Bordeaux and Champagne Geographical Indications
Author(s) -
Haeck Catherine,
Meloni Giulia,
Swinnen Johan
Publication year - 2019
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1093/aepp/ppz026
Subject(s) - terroir , wine , geography , viticulture , value (mathematics) , exploit , economic geography , regional science , economy , economics , art , computer science , computer security , machine learning , visual arts
Previous studies on the value of terroir , or more generally geographical indications (GI), used hedonic techniques. We use historical data and exploit temporal and geographical variations in the introduction of wine GIs in early twentieth century France to study the impact on the price of specific wines in the years and decades following their introduction. We find large effects of GIs on prices of some Champagne wines, but no significant impact on Bordeaux or other Champagne wines.