Data/hora: 09/06/2024 03:36:08

Provedor de dados: 	31	
País: 	United States	
Título: 	Return to wine: A comparison of the hedonic, repeat sales, and hybrid approaches	
Autores: 	Fogarty,   James Joseph; Jones,   Callum.	
Data: 	2011-07-06	
Ano: 	2011	
Palavras-chave: 	Return to wine; Price index; Research Methods/ Statistical Methods; C33; G12.	
Resumo: 	Comparisons between the return to wine and standard financial assets are complicated in that the return to wine must be estimated from infrequent sales of heterogeneous wine brands. Wine returns can be estimated using several different approaches, and here the performance of the hedonic approach, repeat sales approach, and hybrid approach are compared using 14,102 auction sale observations for Australian wine over the period 1988 to 2000. For the data set considered the results show that the hybrid approach provides the most efficient estimates, and that the repeat sales approach provides significantly higher total return estimates than the other two approaches. The portfolio diversification benefit attributed to holding wine is then shown to vary with estimation method.	
Tipo: 	Working or Discussion Paper	
Idioma: 	Inglês	
Identificador: 	http://purl.umn.edu/108668	
Relação: 	University of Western Australia, School of Agricultural and Resource Economics&gt;Working Papers

Working Paper

1119	
Formato: 	14