A földrajzi árujelzők szerepe a magyar borpiacon.

Differentiating wines by their place of production has had a longstanding tradition. The institution of GIs (geographical indication) first appeared in the French law and then became gradually part of the EU wine law and the Common Agricultural Policy. The EU quality schemes aim to protect origin and preserve high-quality production (despite higher costs) of wines by regulating the use of their traditional names. However, several studies pointed out that these goals were not always achieved. This study aims to reveal price premiums of Hungarian GI products in the Hungarian off-trade market. Hedonic price indices are calculated on a sample of 2,672 wines using quantile regression. The author formulates two hypotheses: 1. only some GIs have a price premium in the market and 2. an individual brand can also have a price premium. The results confirm both hypotheses as price premiums are usually shrinking as the percentiles rise. Positive price premiums are estimated for most of the GIs for the median; however, only 7 of them have a positive premium for higher percentiles. The study proves that segmentation within GIs by level of quality makes sense as the price premium is substantially higher for the wines in concern. Results also highlight that GIs may influence wine prices in general, however, this is not always true and the impact may be negative as well. This draws attention to the importance of GIs' right positioning. [ABSTRACT FROM AUTHOR]