The market valuation of the FGIS grain quality characteristics

Uri, Noel D.; Hyberg, Bengt; Mercier, Stephanie; Lyford, Conrad P.

doi:10.1080/00036849400000041

Cited by 10 publications

(3 citation statements)

References 26 publications

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“…Since the pioneer paper of Waugh (1928), who studied the influence of quality factors (colour, size and uniformity of spears) on vegetable price, a lot of applications of such method have been done considering very different agricultural and food products. Among the more recent empirical applications are: Stanley and Tschirhart (1991); Williams et al (1993); Uri et al (1994); and Shõ Â and Price (1998), who evaluate nutritional and non-nutritional characteristics of different food products. Focusing on wine, the following applications can be pointed out: Golan and Shalit (1993); Oczkowski (1994); Nerlove (1995); Combris et al, (1997);and Schamel et al (1998).…”

Section: The Hedonic Price Approachmentioning

confidence: 99%

Hedonic prices for Spanish red quality wine

Angulo

Gil

Gracía

et al. 2000

British Food Journal

106

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In this paper, market values for most of wine attributes are measured through the estimation of a hedonic price function, which relates the price of a wine to its various attributes. As more expensive wines are also associated with higher recognition of wine attributes, results also reflect consumers’ valuation of wine attributes. Data used in this paper comes from a wine catalogue in which only price categories are available. As independent variables, the following wine attributes have been considered: region of production, the year vintage, grape variety, alcoholic content and expert quality ratings. Due to the nature of available data, the hedonic price function has been estimated in the form of a Multinomial Logit model. Results indicate that the two first variables (region of production and the year vintage) are the main market price determinants while grape variety and the alcoholic contents are not significantly correlated with red wine prices.

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Section: The Hedonic Price Approachmentioning

confidence: 99%

Hedonic prices for Spanish red quality wine

Angulo

Gil

Gracía

et al. 2000

British Food Journal

106

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“…Protein marginal value considering intraregional effects was -$0.006/bushel, and considering interregional effects was -$0.004/bushel. Export level premiums and discounts were studied by Veeman (1987), Wilson (1989), Larue (1991), Uri et al (1994), and Ahmadi-Esfahani and Stanmore (1994). Veeman (1987) found that there was a $6/metric tons (MT) premium for a 1 % increase in protein content in world prices for the period 1976-1984.…”

Section: Introductionmentioning

confidence: 99%

“…For high-protein wheat, there was a $5.49/ MT premium for a 1% increase in protein content, for medium-protein a $1.65/MT premium, and for low-protein a $6.42/MT premium. Uri et al (1994) focused on individual wheat export transactions rather than on an aggregated basis and found that implicit values for quality characteristics changed over time with no uniform pattern and were different across wheat types: the protein premium for hard red winter wheat was $5.64/MT, for hard red spring $14.14/MT, and for soft white wheat $6.64/MT. Ahmadi-Esfahani and Stanmore (1994) estimated the implicit values of protein in Australian wheat and found that there was an $8.18/MT premium for each additional percent of wheat grain protein and a $5.34/MT for additional percent of flour protein.…”

Section: Introductionmentioning

confidence: 99%

Willingness-to-Pay for Attribute Level and Variability: The Case of Mexican Millers' Demand for Hard Red Winter Wheat

Gallardo

Lusk

Holcomb

et al. 2009

J. Agric. Appl. Econ.

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In-person interviews were carried out with Mexican millers who were administered a conjoint-type survey designed to incorporate uncertainty in attribute levels. Two methods were used to model millers' risk preferences: a modified mean-variance approach and an explicit expected utility approach. Controlling for variability, Mexican millers are willing to pay premiums for increases in quality factors such as test weight, protein content, falling number, and dough strength/extensibility. We find millers are not particularly sensitive to changes in the variability of quality characteristics. Out-of-sample forecasts suggest the mean-variance model provides an accurate depiction of actual Mexican imports.

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