The structure, variability, and trends of growing season average temperatures and vintage ratings were then examined using descriptive statistics and regression. Since ratings are likely to suffer from heteroscedasticity (i.e., a reduction in the year-to- year rating variability), equations were estimated with White’s heteroscedasticity- consistent standard errors. To account for potential non-climate trends in the vintage ratings (i.e., increased knowledge of grape growing and better production technol- ogy), the following econometric regression model approach, similar to Jones and Storchmann (2001), was applied in the climate/vintage ratings analysis:
The structure, variability, and trends of growing season average temperatures and vintage ratings were then examined using descriptive statistics and regression. Since ratings are likely to suffer from heteroscedasticity (i.e., a reduction in the year-to- year rating variability), equations were estimated with White’s heteroscedasticity- consistent standard errors. To account for potential non-climate trends in the vintage ratings (i.e., increased knowledge of grape growing and better production technol- ogy), the following econometric regression model approach, similar to Jones and Storchmann (2001), was applied in the climate/vintage ratings analysis:
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