Jacobo Núñez, David Martín-Barroso, Francisco J. Velázquez
{"title":"The hedonic price model for the wine market: A systematic and comparative review of the literature","authors":"Jacobo Núñez, David Martín-Barroso, Francisco J. Velázquez","doi":"10.1111/agec.12818","DOIUrl":null,"url":null,"abstract":"<p>This paper carries out a thorough review of the literature on the estimation of hedonic price functions in the wine market, compiling and carefully documenting all research work on the subject. The review analyses the main methodological decisions taken by the different authors, as well as the typology of the available databases: identification of the relevant market, specification of the price function, sources and types of prices, econometric methodology, and type of publication. The variance decomposition analysis of the Adjusted-R-squared values from the estimated hedonic price functions suggests that attribute selection, the definition of the product market, the characteristics of information sources, and the implemented econometric procedures are the most relevant factors in explaining the models’ explanatory power.</p>","PeriodicalId":50837,"journal":{"name":"Agricultural Economics","volume":"55 2","pages":"247-264"},"PeriodicalIF":4.5000,"publicationDate":"2024-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Agricultural Economics","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/agec.12818","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"AGRICULTURAL ECONOMICS & POLICY","Score":null,"Total":0}
引用次数: 0
Abstract
This paper carries out a thorough review of the literature on the estimation of hedonic price functions in the wine market, compiling and carefully documenting all research work on the subject. The review analyses the main methodological decisions taken by the different authors, as well as the typology of the available databases: identification of the relevant market, specification of the price function, sources and types of prices, econometric methodology, and type of publication. The variance decomposition analysis of the Adjusted-R-squared values from the estimated hedonic price functions suggests that attribute selection, the definition of the product market, the characteristics of information sources, and the implemented econometric procedures are the most relevant factors in explaining the models’ explanatory power.
本文对有关葡萄酒市场对冲价格函数估算的文献进行了全面回顾，汇编并仔细记录了有关该主题的所有研究工作。综述分析了不同作者采取的主要方法，以及现有数据库的类型：相关市场的确定、价格函数的规范、价格的来源和类型、计量经济学方法和出版物类型。对估算的享乐主义价格函数的调整 R 平方值进行的方差分解分析表明，属性选择、产品市场的定义、信息来源的特点以及所采用的计量经济学程序是解释模型解释力的最相关因素。
期刊介绍：
Agricultural Economics aims to disseminate the most important research results and policy analyses in our discipline, from all regions of the world. Topical coverage ranges from consumption and nutrition to land use and the environment, at every scale of analysis from households to markets and the macro-economy. Applicable methodologies include econometric estimation and statistical hypothesis testing, optimization and simulation models, descriptive reviews and policy analyses. We particularly encourage submission of empirical work that can be replicated and tested by others.
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
