Early Sales of Bordeaux grands crus
<italic>En primeur</italic> sales of Bordeaux <italic>grands crus</italic> occur every spring on the Bordeaux marketplace and represent the main source of supply for wine merchants. We address two specific issues related to the <italic>en primeur</italic> strategy. First, we study whether <italic>en primeur</italic> prices are good estimates of wines' qualities, as well as how they may reveal any relevant information to uninformed buyers. Second, we consider which roles <italic>en primeur</italic> sales may play between traders, given the market informational and competitive structures. (JEL classification: D42, D82, L15.)
Year of publication: |
2006
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Authors: | Mahenc, Philippe ; Meunier, Valérie |
Published in: |
Journal of Wine Economics. - Cambridge University Press. - Vol. 1.2006, 01, p. 57-74
|
Publisher: |
Cambridge University Press |
Description of contents: | Abstract [journals.cambridge.org] |
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