SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

We analyze online auction prices for top range Bordeaux wine sold on the German eBay site, evaluating the impact of eBay specifics such as auction length, timing of the auction end (day of week, time of day), number of bids, buyer interest (page count), seller reputation, initial prices, picture effects, or private auctions (bidder identity remains undisclosed). Moreover, we evaluate the impact of Parker's rating and whether this quality information is revealed. Other variables of interest are wine age, brands, regional origin, and the 1855 classification. We estimate a main model and two subsets (with page counter, initial bid equal 1). Our hedonic estimation of the full sample reveals that relative to Sundays, wine auctions ending on Fridays resulted in...

Auction Markets for Specialty Food Products with Geographical Indications

Palavras-chave: Research and Development/Tech Change/Emerging Technologies.

Ano: 2004

URL: http://purl.umn.edu/20407

We present a first analysis of auction markets for specialty food products. We identify auction prices, trade volume and value for domestic and foreign origin specialty ham with geographical indications (GIs) which were actually sold in online auctions in Germany within a one-month period. Applying hedonic modeling, we examine potential factors that may influence online bidding behavior and final auction prices. We estimate positive auction price effects for weight, bidding activity, and auction length, that the domestic product is sold at a discount, that higher shipping cost have a negative impact on final prices, and that auctions ending on Fridays and Saturdays yield lower prices. The model may be used to estimate the value of GIs. In our example, we...

Can German Wine Cooperatives Compete on Quality?

Palavras-chave: Consumer economics; Geographical indications; Auctions; Information; Marketing; D12; D44; D83.

Ano: 2006

URL: http://purl.umn.edu/25606

The German Agricultural Society (DLG) manages a multi-round annual quality control scheme where wines undergo a blind, sensory testing procedure using a 5-point scale to determine superior quality wines worthy of an annual award (Bronze, Silver, Gold, and Gold Extra). We develop a hedonic model for the 2005 award competition estimating implicit prices for different product attributes including sensory awards, quality categories, and wine style. We also control for regional origin, variety, color, and age. To discern the impact of ownership structure, we distinguish cooperatives and private wineries. Silver and Bronze awards show significant price effects relative to Gold. We also estimate highly significant price effects between quality categories (e.g....

ANALYZING ENVIRONMENTAL POLICY WITH POLLUTION ABATEMENT VERSUS OUTPUT ANALYZING ENVIRONMENTAL REDUCTION: AN APPLICATION TO U.S. AGRICULTURE

Palavras-chave: Cooperatives; Product Quality; Pricing; Agribusiness; Demand and Price Analysis; Marketing; Q13; L15; D4.

Ano: 2009

URL: http://purl.umn.edu/51552

Schamel, Guenter; de Gorter, Harry.

A model is developed that derives optimal pollution levels and determines the welfare economics of pollution reduction, differentiating between abatement and output reduction. It is suitable to analyze alternative policy instruments aimed to reduce external costs of agricultural production. The model is applied to the U.S. corn sector and we simulate the effects of stylized environmental policies for pesticide use on social welfare and environmental quality. The simulation results indicate that across policy scenarios, fairly modest reductions in output may induce significant gains in social welfare and environmental quality.

Tipo: Working or Discussion Paper

Palavras-chave: Environmental Economics and Policy; Research Methods/ Statistical Methods.

Ano: 1996

URL: http://purl.umn.edu/6853

A Hedonic Pricing Model for German Wine

THE GROCERY RETAILING SECTOR IN GERMANY: ECR ACTIVITIES IN COMPARISON TO THE USA

We develop a hedonic pricing model for German quality wine. Quality indicators for 4,141 wines are sensory awards received at the annual German wine competition and the legally required quality category as well as a set of control variables including regional origin, color, style, and their age at the time of judging. The data confirms that sensory quality awards have a significant and positive price impact. Moreover, we estimate significant relative differences between quality categories, growing regions and most of the control variables.

Tipo: Journal Article

Palavras-chave: Wine; Hedonic pricing models; Reputation; Consumer/Household Economics; Demand and Price Analysis; Marketing.

Ano: 2003

URL: http://purl.umn.edu/97975

Katsaras, Nikolaos; Schamel, Guenter.

The German food retail sector and food manufacturers are in a state of transition due to a complex mix of technological and market forces. Competition continues to increase due to sluggish demand and increasing consumer mobility. The high degree of domestic and international concentration increases the intensity of competition. The top 20 food retailers obtain far more than two-thirds of total sales. Because of the increased competition among retailers, the number of retail stores will continue to decline. Food manufacturers fear the buying power of retailers in many ways. Distrust and struggle over the terms of trade characterize the relation between retailers and manufacturers. ECR activities in Germany lag behind relative to the US due to...

Tipo: Working or Discussion Paper

Palavras-chave: Industrial Organization; Marketing.

Ano: 1999

URL: http://purl.umn.edu/14325

Welfare economics of conventional vs. alternative agriculture

INTERNATIONAL WINE TRADE: ANALYZING THE VALUE OF REPUTATION AND QUALITY SIGNALS

We develop a agricultural model assuming that conventional production is causing environmental externalities while more benign alternative production methods generate non-market amenity benefits and obtain a price premium in the marketplace. We analyze policies targeting external benefits and costs to capture interaction effects: polluting input taxes reduce the returns and subsidies needed to induce more benign production. Thus, it is only optimal to subsidize if the additional marginal amenity benefit exceeds the marginal external cost reductions due to the input tax. Terms of trade effects imply that large (land abundant) exporters have strategic incentives to overvalue external costs while large (land scarce) importers have strategic incentives to...

Tipo: Journal Article

Palavras-chave: Agriculture; Environment; Trade; Welfare economics; Agricultural and Food Policy; Environmental Economics and Policy; International Relations/Trade.

Ano: 2003

URL: http://purl.umn.edu/98077

This research examines the factors behind price differentials based on regional origin. For this purpose, we estimate a hedonic pricing model of premium wines sold in the U.S. We hypothesize that numerous quality signals affect wine prices including expert opinions about sensory quality, maturing potential, and special selections as well as derived indicators that signal a high or low quality producer. After correcting for variety, regional origin, and age, the data confirms that a wine's price is related to producer quality signals, which may even negate regional effects. We conclude that it is problematic to interpret regional premiums as brand value (as opposed to quality premiums) without adjusting them for producer quality signals. Estimated brand...

Focussing on Consumer Attention: Price-Quality Relationships and Reputation Indicators

Palavras-chave: International Relations/Trade.

Ano: 2003

URL: http://purl.umn.edu/22157

In Germany, the focus of agricultural policy is now "the consumer". In the aftermath of the BSE crisis, farmers are encouraged to produce higher quality "ecological" food for which consumers are willing to pay more. Food is an experience good and quality signals are becoming a more important determinant of the prices received. However, given consumers' cognitive limitations, all signals can not receive equal attention. We argue that consumer attention to product quality signals increases with its producer's quality performance, and given attention spillovers (collective reputation), with the expertise of associated producers. Over time, collective reputations should have an effect on price when attention (or quality performance) is low, but should lose...

CALIFORNIA WINE WINNERS: A HEDONIC ANALYSIS OF REGIONAL AND WINERY REPUTATION INDICATORS

Palavras-chave: Food and beverages; Consumer economics; Regional and producer reputation; Consumer/Household Economics; L66; D83; Q18.

Ano: 2002

URL: http://purl.umn.edu/24933

We hypothesize that quality signals improve over time with the quality performance of a wine producer, and that spillovers will affect other producers within the same region. For this purpose, we estimate a hedonic pricing model for premium California wine. Data source is the annual publication "California Wine Winners" accumulated over the judging years 1990-2001. Quality indicators for 19,583 wines are medals awarded during nine annual wine competitions, variety, regional origin, judging age as well as derived producer (brand) and regional reputation indicators. The data confirms that a wine's price is related to its own quality and to producer/regional reputation for quality.

ADVERSE SELECTION IN DEVELOPING COUNTRY FACTOR MARKETS: THE CASE OF FERTILIZERS IN CAMBODIA

Palavras-chave: Marketing.

Ano: 2002

URL: http://purl.umn.edu/19864

Schamel, Guenter; Hongen, Friederike.

We analyze the presence and potential impact of low quality fertilizers, inadequate access to credit and market information on fertilizer market participation and application rates. We explain in theory and show empirically that farmers chose to abstain from the fertilizer market altogether or decrease their application rates below recommended levels because bad quality deters all buyers not willing to pay the market price for the average quality fertilizer available.