CARDEBAT, Jean Marie; LE FUR, Eric; FAYE, Benoit; MASSET, Philippe

Metadatos

Mostrar el registro completo del ítem

Licencia de uso del documento

CARDEBAT, Jean Marie

Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]

LE FUR, Eric
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]

FAYE, Benoit
Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi]

Idioma

Article de revue

Este ítem está publicado en

Bankers, Markets and Investors. 2020, vol. 161

Resumen en inglés

The dispersion of prices on the fine wines market raises the issue of the wine price index construction and valuation of wine funds. In this paper, we first propose an extended hedonic function to better control good heterogeneity (which is a major source of price dispersion) by encoding auction experts’ comments about the state of preservation of the bottles. Second, we use a multiplicative heteroscedastic model to identify the attributes providing the most price dispersion. Outcomes allow for defining the relevant components of wine price hedonic function, and spurs data providers to develop the information on wine products. This result might be useful for professionals willing to improve their fine wine valuation process and then would improve the fine wines market efficiency.< Leer menos

Palabras clave en inglés

Auction prices

Hedonic function

Multiplicative heteroscedastic

Wine

Metadatos

Compartir este ítem

Licencia de uso del documento

Attributes’ specification of wine indexes: is devil in the details?

Idioma

Este ítem está publicado en

Resumen en inglés

Palabras clave en inglés

URI

Link to research data

Centros de investigación