Download or read book American Wine Economics written by James Thornton and published by Univ of California Press. This book was released on 2013-09-18 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. wine industry is growing rapidly and wine consumption is an increasingly important part of American culture. American Wine Economics is intended for students of economics, wine professionals, and general readers who seek to gain a unified and systematic understanding of the economic organization of the wine trade. The wine industry possesses unique characteristics that make it interesting to study from an economic perspective. This volume delivers up-to-date information about complex attributes of wine; grape growing, wine production, and wine distribution activities; wine firms and consumers; grape and wine markets; and wine globalization. Thornton employs economic principles to explain how grape growers, wine producers, distributors, retailers, and consumers interact and influence the wine market. The volume includes a summary of findings and presents insights from the growing body of studies related to wine economics. Economic concepts, supplemented by numerous examples and anecdotes, are used to gain insight into wine firm behavior and the importance of contractual arrangements in the industry. Thornton also provides a detailed analysis of wine consumer behavior and what studies reveal about the factors that dictate wine-buying decisions.
Download or read book American Wine Economics written by James Thornton and published by Univ of California Press. This book was released on 2013-09-18 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. wine industry is growing rapidly and wine consumption is an increasingly important part of American culture. American Wine Economics is intended for students of economics, wine professionals, and general readers who seek to gain a unified and systematic understanding of the economic organization of the wine trade. The wine industry possesses unique characteristics that make it interesting to study from an economic perspective. This volume delivers up-to-date information about complex attributes of wine; grape growing, wine production, and wine distribution activities; wine firms and consumers; grape and wine markets; and wine globalization. Thornton employs economic principles to explain how grape growers, wine producers, distributors, retailers, and consumers interact and influence the wine market. The volume includes a summary of findings and presents insights from the growing body of studies related to wine economics. Economic concepts, supplemented by numerous examples and anecdotes, are used to gain insight into wine firm behavior and the importance of contractual arrangements in the industry. Thornton also provides a detailed analysis of wine consumer behavior and what studies reveal about the factors that dictate wine-buying decisions.
Download or read book Wine s Evolving Globalization written by Kym Anderson and published by Cambridge University Press. This book was released on 2018-02-22 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uses empirically-based analytical narratives to shed light on the development of national wine markets throughout the world.
Download or read book Wine Economics written by Karl Storchmann and published by . This book was released on 2011 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wine Economics written by Stefano Castriota and published by MIT Press. This book was released on 2020-11-17 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and interdisciplinary approach to the economics of the production, distribution, and consumption of wine. Wine economics is a growing subfield that examines the economics of the production, distribution, and consumption of wine. In this book, Stefano Castriota takes a comprehensive and interdisciplinary approach to the study of wine economics, drawing on literature from industrial organization, welfare economics, economic policy, political economy, management, finance, health economics, law, and criminology.
Download or read book Wine and Economics written by Denton Marks and published by Edward Elgar Publishing. This book was released on 2015-02-27 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is distinctive about the economics of wine? Wine's health benefits stir debate, but many appreciate life-enhancing qualities from its production and enjoyment. Few products enjoy such wide distribution, rich history, and interest.
Download or read book The Modern American Wine Industry written by Ian M Taplin and published by Routledge. This book was released on 2015-10-06 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is both a history of the American wine industry and an examination of its current structure and performance. In analysing market formation, Taplin focuses on a complex network of winery owners, winemakers and grape growers to see how relationships have shaped the evolution of this sector.
Download or read book Wine Wars written by Mike Veseth and published by Rowman & Littlefield Publishers. This book was released on 2011-06-16 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Writing with wit and verve, Mike Veseth (a.k.a. the Wine Economist) tells the compelling story of the war between the market trends that are redrawing the world wine map and the terroirists who resist them. Wine and the wine business are at a critical crossroad today, transformed by three powerful forces. Veseth begins with the first force, globalization, which is shifting the center of the wine world as global wine markets provide enthusiasts with a rich but overwhelming array of choices. Two Buck Chuck, the second force, symbolizes the rise of branded products like the famous Charles Shaw wines sold in Trader Joe's stores. Branded corporate wines simplify the worldwide wine market and give buyers the confidence they need to make choices, but they also threaten to dumb down wine, sacrificing terroir to achieve marketable McWine reliability. Will globalization and Two Buck Chuck destroy the essence of wine? Perhaps, but not without a fight, Veseth argues. He counts on "the revenge of the terroirists" to save wine's soul. But it won't be easy as wine expands to exotic new markets such as China and the very idea of terroir is attacked by both critics and global climate change. Veseth has "grape expectations" that globalization, Two Buck Chuck, and the revenge of the terroirists will uncork a favorable future for wine in an engaging tour-de-force that will appeal to all lovers of wine, whether it be boxed, bagged, or bottled.
Download or read book Handbook Of The Economics Of Wine In 2 Volumes written by Orley Ashenfelter and published by World Scientific. This book was released on 2018-03-22 with total page 1045 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real analysis provides the fundamental underpinnings for calculus, arguably the most useful and influential mathematical idea ever invented. It is a core subject in any mathematics degree, and also one which many students find challenging. A Sequential Introduction to Real Analysis gives a fresh take on real analysis by formulating all the underlying concepts in terms of convergence of sequences. The result is a coherent, mathematically rigorous, but conceptually simple development of the standard theory of differential and integral calculus ideally suited to undergraduate students learning real analysis for the first time.This book can be used as the basis of an undergraduate real analysis course, or used as further reading material to give an alternative perspective within a conventional real analysis course.
Download or read book Vine and Wine Economy written by A. Kiadó and published by Elsevier. This book was released on 2012-12-02 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the world wine economy is rapidly changing, the importance of wine production is growing, requiring a new international collaboration, extensive research and an efficient way of teaching. These reasons led to a need for organizing an international scientific symposium on vine and wine economy.Appellation origin control is a kind of marketing. With regards to the technical and juridical field of appellation origin control, its link with economics and marketing is understandable. The world now faces the problem of different appellation origin control systems and there is a need to create uniformity with English speaking producers being more dominant than others as well as economic and political changes in Central and Eastern Europe.For now, the world wine market is complex and a world market as a whole needs to be developed into categories of "fine wines", "wines in general", and "cheap wines". It was agreed that research and education had to be internationally integrated. Different systems of teaching and education were compared, and Hungary proved to be the right place for the symposium.Representatives of 14 countries, international and national organizations, societies, universities, institutes and producers, worked hard on the scientific work as well as visits to wine regions and cooperatives.
Download or read book Journal of Wine Economics written by and published by . This book was released on 2006 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Economic Analysis of the American Wine Industry written by James Harris Robbins and published by . This book was released on 1958 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wine Economics written by O. Güvenen and published by Springer. This book was released on 2013-07-12 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book proposes an overview of the research conducted to date in the field of wine economics. All of these contributions have in common the use of econometric techniques and mathematical formalization to describe the new challenges of this economic sector.
Download or read book World Scientific Reference on Handbook of the Economics of Wine in 2 Volumes written by Orley Ashenfelter and published by World Scientific Publishing Company. This book was released on 2018-05-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last three decades, wine economics has emerged as a growing field within agricultural economics, but also in other fields such as finance, trade, growth, environmental economics and industrial organization. Wine has a few characteristics that differentiate it from other agricultural commodities, rendering it an interesting topic for economists in general. Fine wine can regularly fetch bottle prices that exceed several thousand dollars. It can be stored a long time and may increase in value with age. Fine wine quality and prices are extraordinarily sensitive to fluctuations in the weather of the year in which the grapes were grown. And wine is an experience good, i.e., its quality cannot be ascertained before consumption. As a result, consumers often rely on 'expert opinion' regarding quality and maturation prospects.This handbook takes a broad approach and familiarizes the reader with the main research strands in wine economics.After a general introduction to wine economics by Karl Storchmann, Volume 1 focuses on the core areas of wine economics. The first papers shed light on the relevance of the vineyard's natural environment for wine quality and prices. 'Predicting the Quality and Prices of Bordeaux Wine' by Orley Ashenfelter is a classic paper and may be the first wine economics publication ever. Ashenfelter shows how weather influences the quality and the price of Bordeaux Grands Crus wine. Since the weather condition of the year when the grapes were grown is known, an econometric analysis may be constructed. It turns out this model outperforms expert opinion, i.e., critical vintage scores. At best, expert opinion reflects public information. The subsequent papers, by Ashenfelter and Storchmann, Gergaud and Ginsburgh, and Cross, Plantinga and Stavins, tackle the terroir question. That is, they examine the relevance of a vineyard's physical characteristics for wine quality and prices, but from various dimensions and with different results. Next, Alston et al. analyze a question of great concern in the California wine industry: the causes and consequences of the rising alcohol content in California wine. Is climate change the culprit?The next chapter presents three papers that apply hedonic price analyses to fine wine. Combris, Lecocq and Visser show that Bordeaux wine market prices are essentially determined by the wines' objective characteristics. Costanigro, McCluskey and Mittelhammer differentiate their hedonic analysis for various market segments. Ali and Nauges incorporate reputational variables into their pricing model and distinguish between short- and long-run price effects.The next section of this volume deals with one of the unique characteristics of wine -- its long storage life, which makes it potentially an investment asset. Studying wine's increasing role as an alternative asset class, Sanning et al., Burton and Jacobsen, Masset and Weisskopf, Masset and Henderson, and Fogarty all examine the rate of return to holding wine as well as the related risks. Since these papers analyze different wines and different time periods there is no 'one message.' However, all point out that, while wine may diversify an investor's portfolio, wine's returns do not beat common stock in the long run.The last two chapters examine the role of wine experts. First, Ashenfelter and Quandt revisit the 1976 'Judgment of Paris' and show that aggregating the assessments of several judges should go beyond 'adding points.' Depending on the method employed, the results may vary, and some measure of statistical precision is essential for interpreting the reliability of the results. In two different papers, Cicchetti and Quandt respond to the necessity to provide statistical tools for the assessment of wine tastings.In a seminal paper, Hodgson reports a remarkable field experiment in which similar wines were placed before judges at a major competition. The results have the shocking implication that how medals are awarded at a major California wine fair is not far from being random. Ashton analyzes the performance of professional wine judges and finds little support for the idea that experienced wine judges should be regarded as experts.Do experts scores influence the price of wine? The answer to this question is less obvious then commonly thought since expert opinion oftentimes only repeats public information such as wine quality that results from the weather that produced the wine grapes. Hadj Ali, Lecocq, and Visser as well as Dubois and Nauges find that high critical scores exert only small effects on wine prices. However, Roberts and Reagans show that a high critical exposure reduces the price-quality dispersion of wineries.Lecocq and Visser analyze wine prices and find that 'characteristics that are directly revealed to the consumer upon inspection of the bottle and its label explain the major part of price differences.' Expert opinion and sensory variables appear to play only a minor role. In an experimental setting using two Vickrey auctions, Combris, Lange and Issanchou confirm the leading role of public information, i.e., the label remains a key determinant for champagne prices. In a provocative and widely discussed study drawing on blind tasting results of some 5,000 wines, Goldstein and collaborators find that most consumers prefer less expensive over expensive wine.Finally, Weil examines the value of expert wine descriptions and lets several hundred subjects match the wines and their descriptors. His results suggest that the ability to assign a certain description to the matching wine is more or less random.Volume 2 covers the topics reputation, regulation, auctions, and market organizational. Landon and Smith, Anderson and Schamel, and Schamel analyze the impact of current quality and reputation (i.e., past quality) on wine prices from different regions. Their results suggest that prices are more influenced by reputation than by current quality. Costanigro, McCluskey and Goemans develop a nested framework for jointly examining the effects of product, firm and collective reputation on market prices.The following four papers deal with regulatory issues in the US as well as in Europe. While Riekoff and Sykuta shed light on the politics and economics of the three-tier system of alcohol distribution and the prohibition of direct wine shipments in the US, Deconinck and Swinnen analyze the European planting rights system. The political economy of European wine regulation is then covered by Melonie and Swinnen, before Anderson and Jensen shed light on Europe's complex system of wine industry subsidies.The next chapter is devoted to wine auctions. In three different papers, Fevrier, Roos and Visser, Ashenfelter, and Ginsburgh analyze the effects of specific auction designs on the resulting hammer prices. The papers focus on multi-unit ascending auctions, absentee bidders, and declining price anomalies.The last chapter, supply and organization, is devoted to a wide range of issues. First, Heien illuminates the price formation process in the California winegrape industry. Then, Frick analyzes if and how the separation of ownership and control affects the performance of German wineries.Vink, Kleynhans and Willem Hoffmann introduce us to various models of wine barrel financing, particularly to the Vincorp model employed in South Africa. Galbreath analyzes the role of women in the wine industry. He finds that (1) women are underrepresented and (2) that the presence of a female CEO increases the likelihood of women in winemaker, viticulturist, and marketing roles in that firm. Gokcekus, Hewstone, and Cakal draw on crowdsourced wine evaluations, i.e., Wine Tracker data, and show that private wine assessments are largely influenced by peer scores lending support to the assumption of the presence of a strong herding effect.Mahenc refers to the classic model of information asymmetries and develops a theoretical model highlighting the role of informed buyers in markets that are susceptible to the lemons problem. Lastly, in their paper 'Love or Money?' Scott, Morton and Podolny analyze how the presence of hobby winemakers may distort market outcomes. Hobby winemakers produce higher quality wines, charge higher prices, and enjoy lower financial returns than professional for-profit winemakers. As a result, profit-oriented winemakers are discouraged from locating at the high-quality end of the market.
Download or read book Extreme Wine written by Mike Veseth and published by Rowman & Littlefield Publishers. This book was released on 2013-07-17 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Extreme Wine, wine economist and best-selling author Mike Veseth circles the globe searching for the best, worst, cheapest, most expensive, and most over-priced wines. Mike seeks out the most outrageous wine people and places and probes the biggest wine booms and busts. Along the way he applauds celebrity wines, tries to find wine at the movies, and discovers wines that are so scarce that they are almost invisible. Why go to such extremes? Because, Mike argues, the world of wine is growing and changing, and if you want to find out what’s really happening you can’t be afraid to step over the edge. Written with verve and appreciation for all things wine, Extreme Wine will surprise and delight readers.
Download or read book The Market and Economics of the U S Wine Market written by Specialists in Business Information, inc and published by . This book was released on 1978 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Around the World in Eighty Wines written by Mike Veseth and published by Rowman & Littlefield. This book was released on 2017-11-01 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inspired by Jules Verne’s classic adventure tale, celebrated editor-in-chief of The Wine Economist Mike Veseth takes his readers Around the World in Eighty Wines. The journey starts in London, Phileas Fogg’s home base, and follows Fogg’s itinerary to France and Italy before veering off in search of compelling wine stories in Syria, Georgia, and Lebanon. Every glass of wine tells a story, and so each of the eighty wines must tell an important tale. We head back across Northern Africa to Algeria, once the world’s leading wine exporter, before hopping across the sea to Spain and Portugal. We follow Portuguese trade routes to Madeira and then South Africa with a short detour to taste Kenya’s most famous Pinot Noir. Kenya? Pinot Noir? Really! The route loops around, visiting Bali, Thailand, and India before heading north to China to visit Shangri-La. Shangri-La? Does that even exist? It does, and there is wine there. Then it is off to Australia, with a detour in Tasmania, which is so cool that it is hot. The stars of the Southern Cross (and the title of a familiar song) guide us to New Zealand, Chile, and Argentina. We ride a wine train in California and rendezvous with Planet Riesling in Seattle before getting into fast cars for a race across North America, collecting more wine as we go. Pause for lunch in Virginia to honor Thomas Jefferson, then it’s time to jet back to London to tally our wines and see what we have learned. Why these particular places? What are the eighty wines and what do they reveal? And what is the surprise plot twist that guarantees a happy ending for every wine lover? Come with us on a journey of discovery that will inspire, inform, and entertain anyone who loves travel, adventure, or wine.
