AAWE, Economics Dept, New York University, 19 W 4th St, 6Fl., New York NY 10012aawe@wine-economics.org

AAWE Working Paper No. 234 – Economics

The Value of Terroir. A Historical Analysis of the Bordeaux and Champagne Geographical Indications

Catherine Haeck, Giulia Meloni & Johan Swinnen

Abstract

Previous studies on the value of terroir, or more generally geographical indications (GI), used hedonic techniques. We use historical data and exploit temporal and geographical variations in the introduction of wine GIs in early twentieth century France to study the impact on the price of specific wines in the years and decades following their introduction. We find large effects of GIs on prices of some Champagne wines, but no significant impact on Bordeaux or other Champagne wines.

(JEL Classifications: C21, L51, L66, N53, Q11, Q18)

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