Quality classifications in competition: Price formation in the German wine market

Arbeitspapier

How do judgment devices influence price formation? We investigate this question through a study of the German wine market. The German wine market is characterized by the simultaneous existence of two classification systems: the official classification system referring to the quality in the glass, and the concept of terroir, introduced by a private association of quality winemakers, the Verband deutscher Prädikatsweingüter. We used a data set comprising 1,890 wines from 248 different wineries in the German wine-growing regions of Rheingau and Rheinhessen. Our results show that the two classification systems function as mutually exclusive strategic options for winemakers. We also show that the non-official classification of terroir is much more powerful in explaining price formation within the market.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: MPIfG Discussion Paper ; No. 12/3

Klassifikation und Themen

• Klassifikation: Sozialwissenschaften, Soziologie, Anthropologie
• Thema: Wein ; Preis ; Produktqualität ; Klassifikation ; Markt ; Deutschland

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Rössel, Jörg ; Beckert, Jens
• Ereignis: Veröffentlichung
• (wer): Max Planck Institute for the Study of Societies
• (wo): Cologne
• (wann): 2012

Weitere Informationen

• Handle: http://hdl.handle.net/10419/60240
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ