Crozet, Matthieu; Head, Keith; Mayer, Thierry - Centre d'études prospectives et d'informations … - 2009
Firm-level regressions show that Champagne producers that receive better ratings from wine guides also export to more markets, charge higher prices, and sell more in each market. Our method corrects for a severe selection bias predicted by the model. By using direct measures of quality, we can...