Hedonic Modelling for Australian Wine
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The Australian wine industry has been under the pressure of
oversupply for many years. Export promotion appears to
potentially serve as an effective strategy to partially address this
problem. An Hedonic price function is employed to estimate
premia and discounts for various varieties, regions and vintages
of Australian wine, within the US retail market. Some
preliminary results are presented. These results may be used to
develop an optimal allocation of Australian wine to various
overseas and domestic markets.