Table 10 Effects of Added SO₂, Production Variables, Wine Characteristics, Indicators of Quality, and Winery Characteristics on Prices of Wines with and without Robert Parker Ratings and Prices of Red Wines without Robert Parker Ratings

SO₂

−0.282

(0.204)

−0.275^b

(0.134)

−0.623^b

(0.199)

SO₂ x White

0.170

(0.113)

0.236

(0.184)

SO₂ x Rosé

0.534^b

(0.206)

SO₂ x FNIVAB

−0.576^a

(0.299)

−0.042

(0.119)

0.010

(0.151)

SO₂ x Demeter

0.210^a

(0.113)

0.060

(0.129)

0.498^b

(0.238)

SO₂ x Ln(Intended Cellar)

0.243^a

(0.142)

0.180^b

(0.057)

0.321^b

(0.113)

Ln(Intended Cellar)

−0.063

(0.130)

0.082

(0.061)

−0.097

(0.107)

Manual Harvest

0.156

(0.160)

0.184^b

(0.065)

0.163^b

(0.072)

Ferments Added

−0.174

(0.162)

0.067

(0.064)

0.038

(0.075)

Sugar Added

−0.440^a

(0.245)

−0.215

(0.222)

0.218

(0.160)

Filtered

0.060

(0.118)

−0.009

(0.074)

−0.149^b

(0.069)

Oak Barrel

0.335^c

(0.080)

0.140^c

(0.032)

0.168^c

(0.040)

Ln(Production)

−0.009

(0.043)

−0.120^c

(0.025)

−0.067^b

(0.034)

Ln(Aged)

0.158

(0.228)

0.055

(0.100)

0.161^b

(0.075)

% Alcohol

−0.038

(0.039)

0.032^a

(0.018)

0.046^a

(0.024)

Sparkling

0.061

(0.166)

0.346^c

(0.095)

0.329^b

(0.136)

White

−0.145

(0.141)

−0.259

(0.226)

Rosé

0.267

(0.301)

−0.484^a

(0.252)

Hachette

−0.073

(0.176)

−0.065

(0.069)

−0.034

(0.073)

Hachette x Stars

−0.151

(0.129)

−0.028

(0.055)

−0.034

(0.067)

Hachette CDC

0.266

(0.195)

0.031

(0.144)

0.035

(0.120)

AOC

0.023

(0.095)

0.241^b

(0.088)

0.146^b

(0.074)

Grand Cru

0.332

(0.218)

−0.075

(0.204)

0.999^c

(0.128)

Villages

0.216

(0.486)

−0.007

(0.124)

−0.041

(0.106)

Parker Rating

−0.002

(0.069)

0.019^c

(0.004)

FNIVAB

0.723^b

(0.343)

0.062

(0.167)

Biodyvin

0.093

(0.125)

0.074

(0.256)

Demeter

−0.692^b

(0.254)

Ln(OrgExp)

−0.041

(0.080)

0.169

(0.202)

−0.014

(0.040)

Ln(Total Area)

−0.119

(0.119)

0.011

(0.043)

Controls for Variety, Region, Vintage

Yes

Yes

Yes

Constant

3.048

(6.228)

1.236^c

(0.359)

1.684^c

(0.388)

N

128

414

253

R²

0.885

0.264

0.661

Hausman Test Chi²(61),(50),(56)

22.15

89.26^c

48.46

Model Type