La capitalisation du prix des vins dans le prix des vignes en Côte-d’Or

Jean-Sauveur Ay, Abdoul Diallo and Hai-Vu Pham

Revue économique, 2023, vol. 74, issue 1, 115-135

Abstract: The prices of vineyards with a geographical indication (GI) have greatly increased during the last decades, to the point of questioning their connection to returns from wine production. In this article, we use the seminal capitalization model to compare the prices observed during vineyard sales to economic returns estimated from wine prices. We obtain that vineyard prices between GIs increase more strongly than associated returns. We show that this disconnection can be explained by portfolio effects, stemming from the supply diversification made possible by the purchase of new vineyards. On the other hand, the wine price dynamics are not significantly different from those predicted by the model, which goes against speculation on vineyard prices.

Keywords: wine economics; net present value; vineyard price; geographical indication; data scrapping (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_741_0115 (application/pdf)
http://www.cairn.info/revue-economique-2023-1-page-115.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:recosp:reco_741_0115

Access Statistics for this article

More articles in Revue économique from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().