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  • Willingness-to-Pay for Reshuffling Geographical Indications
    J. Wine Econ. (IF 1.774) Pub Date : 2020-06-16
    Monia Saïdi; Jean-Sauveur Ay; Stéphan Marette; Christophe Martin

    This article presents a new experimental protocol for estimating consumers’ willingness-to-pay (WTP) for products involved in a reshuffle of geographical indications (GIs), e.g., a change of hierarchical levels within a restricted area. Although the collective reputation of a given GI depends on its temporal stability, reshuffling a GI area could make it better aligned with product quality or consumers’

  • Explaining World Wine Exports in the First Wave of Globalization, 1848–1938
    J. Wine Econ. (IF 1.774) Pub Date : 2020-06-02
    María-Isabel Ayuda; Hugo Ferrer-Pérez; Vicente Pinilla

    The objective of this article is to analyze the determinants of world wine exports in the first globalization, taking into account the principal exporting countries and using an extended version of the gravity model. The article distinguishes between ordinary- and high-quality wines. Our econometric results show that wine exports were not affected by the increase in the size of the markets of consuming

  • Consumer Taxes on Alcohol: An International Comparison over Time
    J. Wine Econ. (IF 1.774) Pub Date : 2020-04-22
    Kym Anderson

    Rates of alcohol taxation, and the types of tax instruments used, vary enormously between countries and have tended to rise in recent times. Within each country, they also vary between beverages and often between qualities and styles of each beverage. This article computes consumer tax equivalents in U.S. dollars per litre of alcohol and as percentages of wholesale prices of representative beverages

  • Wine Descriptions Provide Information: A Text Analysis
    J. Wine Econ. (IF 1.774) Pub Date : 2020-04-06
    Bryan C. McCannon

    I use a computational linguistic algorithm to measure the topics covered in textual descriptions of wine. I ask whether there is information in the text that consumers value. Wine is a prominent example of an experience good. There is substantial product differentiation in the market, and consumers only have limited information on the utility they will receive when consumed. Thus, information is expected

  • French Wine Exports to China: Evidence from Intra-French Regional Diversification and Competition
    J. Wine Econ. (IF 1.774) Pub Date : 2020-02-21
    Olivier Bargain

    While France leads the way in the Chinese import market of wine, China is France's third largest wine export market by value. In this article, I analyze the determinants of France's wine exports to China, differentiated by French wine growing regions. I estimate a simple demand using a dataset on wine shipments of 100 different types of French bottled wines to China between 1998 and 2015. I find a

  • The Role of Individual Risk Attitudes on Old Wine Valuations
    J. Wine Econ. (IF 1.774) Pub Date : 2019-12-06
    Nikolaos Georgantzís; Jean-Christian Tisserand

    In this article, we report the results of an experiment designed to address the effect of risk attitudes on valuations of aged wines. We find that higher risk taking in the economic domain is associated with a significantly higher willingness to pay for an old wine. Given the increasing interest of consumers and investors in old wines, our results are applicable to the pricing of old wines and to the

  • Spanish Wine Cooperatives’ Business Performance: Innovation Capabilities and Miles and Snow Strategies
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-27
    Juan-Ramón Ferrer; Silvia Abella-Garcés; María-Teresa Maza

    Agricultural cooperatives’ economic performance and efficiency today have great economic and social relevance. Consistent with the recent literature, this article examines wine cooperatives and compares them with wine investor-owned firms, studying their innovation capabilities, Miles and Snow strategies, and performance. A survey was conducted in all the wineries in Spain, with 339 responses. The

  • Last Frontier Investments: The Case of Alpine Wines
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-26
    Philippe Masset; Jean-Philippe Weisskopf; Clémentine Fauchery

    We identify and examine the performance of frontier investments from 2002 to 2017. Using fine wine as a setting, we find that the trade frequency and value of frontier investments in the form of Alpine wines have increased in recent years, leading to a rise in their prices above inflation rates. We further document that this frontier investment has been favorable in terms of risk-adjusted returns and

  • Personality Traits and Consumption of Wine and Beer
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-15
    Geir W. Gustavsen; Kyrre Rickertsen

    Little attention has been paid to the effects of personality traits on the consumption of wine and beer. We used a survey to investigate the associations between personality traits and the differences in expected consumption frequencies of wine and beer for 3,482 Norwegian respondents. High scores on extraversion and openness to experiences increased the expected frequency of wine consumption, high

  • Collective Economic Conceptualization of Cider and Wine Routes by Stakeholders
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-13
    L. Martin Cloutier; Laurent Renard; Sébastien Arcand

    The coherence and systemic strength of the collaborative process among thematic route stakeholders are key factors to economic success for individual businesses and regional economic development. The objective of this article is to identify the economic action set to rejuvenate the Cider Route and the Wine Route of the Montérégie region (Quebec, Canada). Group concept mapping is used to estimate the

  • On Pricing Unconventional Prepaid Forward Contracts: Evidence from en primeur Fine Wine
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-13
    Marcin Czupryna; Michał Jakubczyk; Paweł Oleksy

    An en primeur agreement is an unconventional forward contract. In this article, we provide a new conceptual framework for analyzing the properties of en primeur prices based on the cost of carry approach. The results, based upon Bayesian modeling, indicate that the cost of carry increases up to 0.9598 when en primeur and bottled wines are traded in parallel. Moreover, our findings confirm that price

  • Horizontal Differentiation and Determinants of Wine Exports: Evidence from Portugal
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-12
    Anthony Macedo; Sofia Gouveia; João Rebelo

    Assuming horizontal differentiation and using an expanded gravity model, the main objective of this article is to assess the determinants of Portuguese wine exports. Horizontal differentiation is considered, with still and fortified wines being distinguished, as well as three distinct designations of origin: Vinho Verde, Douro, and Port wines. The results from the period between 2006 and 2016 suggest

  • Income Inequality and Status Symbols: The Case of Fine Wine Imports
    J. Wine Econ. (IF 1.774) Pub Date : 2019-11-11
    Britta Niklas; Elkhan Richard Sadik-Zada

    This survey investigates the inequality-fine wine imports nexus. To this end, the study employs cointegration techniques to analyze two panel datasets, one of which will analyze data from 12 countries between 1871 and 2018, and another that analyzes data from 66 countries between 1995 and 2017. Estimations indicate that income inequality leads to more fine wine imports in the long run. Changes in income

  • Modeling Grape Price Dynamics in Mendoza: Lessons for Policymakers
    J. Wine Econ. (IF 1.774) Pub Date : 2019-10-30
    German Puga; James Fogarty; Atakelty Hailu; Alejandro Gennari

    Mendoza is the main wine-producing province of Argentina, and the government is currently implementing a range of policies that seek to improve grape grower profitability, including a vineyard replanting program. This study uses a dataset of all grape sales recorded in Mendoza from 2007 to 2018, totaling 90,910 observations, to investigate the determinants of grape prices. Key findings include: smaller

  • Evolving Consumption Patterns in the U.S. Alcohol Market: Disaggregated Spatial Analysis
    J. Wine Econ. (IF 1.774) Pub Date : 2019-10-24
    Jarrett Hart; Julian M. Alston

    Global consumption patterns for alcoholic beverages are evolving, with some convergence in per capita consumption among nations as traditionally beer-drinking nations increase their consumption of wine and, conversely, wine-consuming nations shift towards beer. This article explores regional patterns of alcoholic beverage consumption within the United States. One purpose is to see if similar patterns

  • The Role of Craft Breweries in Expanding (Local) Hop Production
    J. Wine Econ. (IF 1.774) Pub Date : 2019-10-22
    Elizabeth A. Dobis; Neil Reid; Claudia Schmidt; Stephan J. Goetz

    Hop production has expanded dramatically in recent years along with the number of local craft breweries, but to date the relationship between these two phenomena has not been explored systematically. Using a state-level pooled count data model with observations from 2007, 2012, and 2017, we examine the independent lagged effects of breweries on the number of hop farms and acres grown, holding constant

  • Persistent Patterns in the U.S. Alcohol Market: Looking at the Link between Demographics and Drinking
    J. Wine Econ. (IF 1.774) Pub Date : 2019-10-14
    Jarrett Hart; Julian M. Alston

    Global consumption patterns for alcoholic beverages are evolving, with some convergence in per capita consumption among nations, as traditionally beer-drinking nations increase their consumption of wine and, conversely, wine-consuming nations shift towards beer. In a forthcoming article (Hart and Alston, 2019), we explore regional patterns of alcoholic beverage consumption within the United States

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