Table 9 Effects of Added SO₂, Production Variables, Wine Characteristics, Indicators of Quality, and Winery Characteristics on Prices for AOC, Non-AOC, and Red AOC Wines

SO₂

−0.188

(0.168)

−0.526^b

(0.260)

−0.544^b

(0.234)

SO₂ x White

0.087

(0.132)

0.712

(0.427)

SO₂ x Rosé

0.246

(0.186)

0.805^b

(0.256)

SO₂ x FNIVAB

0.302

(0.231)

0.367^a

(0.206)

0.107

(0.285)

SO₂ x Biodyvin

−0.631^b

(0.199)

−0.608^b

(0.287)

SO₂ x Demeter

0.244

(0.174)

0.571^a

(0.344)

SO₂ x Ln(Intended Cellar)

0.093

(0.060)

0.201^a

(0.101)

0.367^c

(0.105)

Ln(Intended Cellar)

0.080

(0.053)

0.114

(0.076)

−0.206^b

(0.089)

Manual Harvest

0.215^b

(0.080)

0.205^b

(0.097)

0.149

(0.093)

Ferments Added

−0.033

(0.077)

0.046

(0.070)

0.066

(0.101)

Sugar Added

−0.212^a

(0.118)

0.482

(0.290)

0.222

(0.136)

Filtered

−0.007

(0.067)

0.029

(0.112)

−0.148^a

(0.079)

Oak Barrel

0.184^c

(0.037)

0.194^b

(0.082)

0.212^c

(0.044)

Ln(Production)

−0.077^b

(0.028)

−0.144^c

(0.040)

−0.014

(0.041)

Ln(Aged)

0.104

(0.065)

0.253

(0.212)

0.088

(0.086)

% Alcohol

0.037^b

(0.019)

0.009

(0.039)

0.132^b

(0.041)

Sparkling

0.173^b

(0.081)

0.034

(0.091)

0.335

(0.233)

White

−0.109

(0.190)

−0.640

(0.440)

Rosé

−0.239

(0.186)

−0.732^b

(0.219)

Hachette

−0.081

(0.068)

0.191

(0.153)

−0.044

(0.097)

Hachette x Stars

−0.065

(0.064)

−0.026

(0.090)

Hachette CDC

0.071

(0.111)

−0.092

(0.160)

Grand Cru

0.186

(0.158)

−0.185

(0.378)

0.446

(0.302)

Villages

0.019

(0.105)

0.188

(0.236)

−0.161

(0.131)

Parker Dummy Variable

0.125

(0.083)

0.019

(0.094)

Parker Rating

−0.065

(0.041)

0.037

(0.039)

FNIVAB

−0.158

(0.229)

0.072

(0.300)

Biodyvin

0.823^c

(0.211)

0.985^c

(0.272)

Demeter

−0.180

(0.221)

−0.725^b

(0.365)

Ln(OrgExp)

−0.080^a

(0.041)

0.430

(0.369)

−0.039

(0.043)

Ln(Total Area)

0.010

(0.051)

−0.016

(0.047)

Controls for Variety, Region, Vintage

Yes

Yes

Yes

Constant

7.353^b

(3.593)

1.032

−2.524

(3.674)

N

370

172

222

R²

0.601

0.774

0.666

Hausman Test Chi²(63),(44),(54)

62.89

52.46^c

47.98

Model Type