Núñez, JacoboMartín Barroso, DavidVelázquez Angona, Francisco Javier2025-01-092025-01-092024-02-08Núñez, J., Martín-Barroso, D., & Velázquez, F. J. (2024). The hedonic price model for the wine market: A systematic and comparative review of the literature. Agricultural Economics, 55, 247–264. https://doi.org/10.1111/agec.128180169-515010.1111/agec.12818https://hdl.handle.net/20.500.14352/113444This paper carries out a thorough review of the literature on the estimation of hedonic price functions in the wine market, compiling and carefully documenting all research work on the subject. The review analyses the main methodological decisions taken by the different authors, as well as the typology of the available databases: identification of the relevant market, specification of the price function, sources and types of prices, econometric methodology, and type of publication. The variance decomposition analysis of the Adjusted-R-squared values from the estimated hedonic price functions suggests that attribute selection, the definition of the product market, the characteristics of information sources, and the implemented econometric procedures are the most relevant factors in explaining the models’ explanatory power.engAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/journal article1574-0862https://doi.org/10.1111/agec.12818https://onlinelibrary.wiley.com/doi/epdf/10.1111/agec.12818open accessD46L70Q11Hedonic price modelMarket definitionWine attributesWine pricesEconomía53 Ciencias Económicas5304 Actividad Económica