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Early Sales of Bordeaux grands crus*

Published online by Cambridge University Press:  08 June 2012

Philippe Mahenc  and
Valérie Meunier
Philippe Mahenc
Affiliation:
LERNA-INRA, Manufacture des Tabacs, 21 Allée de Brienne, 31000 Toulouse,France and University of Perpignan. Email: mahenc@univ-perp.fr
Valérie Meunier
Affiliation:
University of Aarhus, School of Economies and Management, Building 322, 8000 Aarhus C,Denmark. Email: vmeunier@econ.au.dk.
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Abstract

En primeur sales of Bordeaux grands crus 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 en primeur strategy. First, we study whether en primeur 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 en primeur sales may play between traders, given the market informational and competitive structures. (JEL classification: D42, D82, L15.)

Type
Articles
Information
Journal of Wine Economics , Volume 1 , Issue 1 , Spring 2006 , pp. 57 - 74
Copyright
Copyright © American Association of Wine Economists 2006

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