The main objective of this paper is to study indicators of individual wine reputation and how they may affect the price of wines in Friuli Venezia Giulia. The analysis is built on the assumption that consumers base their wine purchase decisions on easily available information such as expert quality ratings and reputation builds on past awards for a wine. We estimate a hedonic pricing model using a data set of 1078 Friulian wines listed in the Gambero Rosso wine guide. The categorical nature of the dependent variable suggests the use of ordered response models. The results not only show that awards for the current quality of a wine carry a positive and substantial premium, but also that having received an award in the past (indicating individual wine reputation) has a positive effect on prices. Moreover, the province of production has a considerable effect on prices and white, older wines tend to be more expensive. The paper confirms the important role of current quality ratings and of individual wine reputation in determining wine prices. An important marketing implication is that wineries and retailers should communicate the current quality of a wine together with any past quality recognitions received as this should foster the reputation of an individual wine in the future.

本文的主要目的是研究弗留利·威尼斯·朱利亚（Friuli Venezia Giulia）葡萄酒个人声誉的指标以及它们如何影响葡萄酒价格。该分析基于以下假设：消费者根据容易获得的信息（例如专家质量评级和声誉，基于过去的葡萄酒奖项来决定他们的葡萄酒购买决定）。我们使用Gambero Rosso葡萄酒指南中列出的1078弗留利葡萄酒的数据集来估计享乐主义定价模型。因变量的分类性质建议使用有序响应模型。结果不仅表明对葡萄酒当前质量的奖励具有积极而实质的溢价，而且过去获得的奖励（表明个人葡萄酒声誉）对价格也具有积极影响。而且，产区对价格和白葡萄酒的影响很大，陈年葡萄酒往往更昂贵。本文确认了当前质量等级和个人葡萄酒声誉在确定葡萄酒价格中的重要作用。一个重要的营销含义是，酿酒厂和零售商应传达葡萄酒的当前质量以及过去获得的任何质量认可，因为这将在将来提高单个葡萄酒的声誉。