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Wine economics : = quantitative studies and empirical applications /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Wine economics :/ edited by Marie-Claude Pichery, Eric Giraud-H�eraud.
Reminder of title:	quantitative studies and empirical applications /
other author:	Pichery, Marie-Claude,
Description:	1 online resource (xxii, 368 pages)
Subject:	Wine industry. -
Online resource:	http://www.palgraveconnect.com/doifinder/10.1057/9781137289520
ISBN:	9781137289520 (electronic bk.)

Wine economics : = quantitative studies and empirical applications /
Wine economics :quantitative studies and empirical applications /edited by Marie-Claude Pichery, Eric Giraud-H�eraud. - 1 online resource (xxii, 368 pages) - Applied Econometrics Association series. - Applied Econometrics Association series..

Includes bibliographic references and index.

PART I: ALCOHOL CONSUMPTION AND WELFARE -- 1. Life Satisfaction and Alcohol Consumption: an Empirical Analysis of Self-Reported Life Satisfaction and Alcohol Consumption in OECD countries; Jan Bentzen and Valdemar Smith -- 1.1. Introduction -- 1.2. Literature Review and Issues in the Happiness-income -- 1.3. Modelling of the Happiness-alcohol Relationship -- 1.4. Alcohol Consumption and Life Satisfaction -- 1.5. Estimating the Happiness-alcohol Model -- 1.6. Conclusions -- 2. Advertising and the Demand for (non)Alcoholic Beverages; Ruben Hoffman and Yves Surry -- 2.1. Introduction -- 2.2. The Alcohol Market -- 2.3. Optimal Alcohol Tax Model -- 2.4. Calibration Case Study -- 2.5. Conclusion -- 3. Alcohol Demand, Externalities and Welfare Maximising Alcohol Taxes; James Fogarty -- 3.1. Introduction -- 3.2. Model Framework -- 3.3. Data and Estimation Procedure -- 3.4. Empirical Results -- 3.5. Conclusion -- PART II: CONSUMERS' BEHAVIOURS AND PRICES -- 4. The Economic Value of Wine Names that Reference Place in the US Market: Analysis of 'Champagne' and Sparking Wine; Hyunok Lee and Daniel A. Sumner -- 4.1. Introduction -- 4.2. Previous Econometric Research on Wine Place Names -- 4.3. Data Source and Data Description -- 4.4. Econometric Estimation of the Hedonic Price Equations with Market Data -- 4.5. Econometric Results and Interpretations of the Price Equation for Sparkling Wine Sold in the United States -- 4.6. Conclusion -- 5. The Price of Wine: Does the Bottle Size Matter?; Jean-Fra�nois Outreville -- 5.1. Introduction -- 5.2. Does the Bottle Matter? -- 5.3. A Measure of the Relative Scaled Price Index -- 5.4. The Market Price of Large Bottles at Auctions -- 5.5. Conclusion and Suggestions for Further Research -- 6. Wine Judging and Tasting; Matteo Galizzi -- 6.1. Introduction -- 6.2. Literature Review -- 6.3. The Wine Judging System and Experts' Panels in Italy: A Price Formation Model? -- 6.4. The Three Main Professional Guides in Italy, and their Data on Wines and Awards -- 6.5. Empirical Analysis and Results: The Awards by the Professional Guides in 2008 -- 6.6. Conclusion -- 7. Willingness to Pay for Appellations of Origin: Results of an Experiment with Pinot Noir Wines in France and Germany; Pascale Bazoche, Pierre Combris, Eric Giraud-�Hraud and Jean-Baptiste Traversac -- 7.1. Introduction -- 7.2. Willingness to Pay (WTP) for Protected Designation of Origin and Other Wine Characteristics -- 7.3. Experiment Design and Method -- 7.4. Data and Results -- 7.5. Conclusion -- PART III: WINE RANKING AND FINANCIAL ISSUES -- 8. How Best to Rank Wines: Majority Judgment; Michel Balinski and Rida Laraki -- 8.1. Introduction -- 8.2. Traditional Amalgamation Schemes and the 'Judgment of Paris' -- 8.3. Why the Traditional Amalgamation Schemes Fail -- 8.4. Majority Judgment -- 8.5. Majority Judgment in Use -- 8.6. Conclusion -- 9. Wine as an Alternative Asset Class; Philippe Masset and Jean-Philippe Weisskopf -- 9.1. Introduction -- 9.2. Investment Opportunities on the Market for Fine Wine -- 9.3. Academic Literature -- 9.4. Empirical Study of the Market for Fine Wine -- 9.5. The Case of the US Wine Market -- 9.6. The Case of the Swiss Wine Market -- 9.7. Conclusion -- 10. Financial Reaction to Business Cycle in Period of Difficulties: the Case of French Wine Companies; Paul Amadieu, Jean-Pierre Couderc and Jean-Laurent Viviani -- 10.1. Introduction -- 10.2. Theoretical Foundations of Hypotheses -- 10.3. Data, Variables and Method -- 10.4. Results -- 10.5. Conclusion -- PART IV: INTERMEDIARY MARKETS AND STRATEGIC DECISIONS -- 11. The Technical Efficiency of Wine Grape Growers in the Murray-Darling Basin in Australia; Tim Coelli and Orion Sanders -- 11.1. Introduction -- 11.2. Sample Data and Variable Selection -- 11.3. Methods -- 11.4. Empirical Results -- 11.5. Conclusion -- 12. Product Assortment and the Efficiency of Farms; Gordana Manevska-Tasevska -- 12.1. Introduction -- 12.2. Dimensions of Product Assortment -- 12.3. Method -- 12.4. Data and Variables -- 12.5. Results -- 12.6. Discussion and Conclusions -- 13. Determinants of Wine Bottling Strategic Decisions: Empirical Evidences from the Italian Wine Industry; Giulio Malorgio, Cristina Grazia, Francesco Caracciolo and Carla De Rosa -- 13.1. Introduction -- 13.2. Conceptual Framework -- 13.3. Data, Variables, and Model Specification -- 13.4. Results -- 13.5. Discussion and Final Remarks -- 14. Export Intentions of Wineries; Isabel Barda�j, Belen Iraizoz and Julio Estavillo -- 14.1. Introduction -- 14.2. Theoretical Foundation and Hypothesis Development -- 14.3. Research Design -- 14.4. Results -- 14.5. Conclusion -- PART V: NEW TOPICS -- 15. Wine Tourism and On-Site Wine Sales; Fra�noise Bensa and Marie-Claude Pichery -- 15.1. Introduction -- 15.2. The Actors of Wine Tourism and their Expectations -- 15.3. Wine Tourism in Terms of Experiential Marketing -- 15.4. Methodology -- 15.5. Analysis of Results -- 15.6. Conclusion -- 16. The High and Rising Alcohol Content of Wine; Julian M. Alston, Robert Mondavi, Kate Fuller, James Lapsley, George Soleas and Kabir Tumber -- 16.1. Introduction -- 16.2. Increasing Sugar Content in California Grapes -- 16.3. International Evidence on the Rising Alcohol Content of Wine -- 16.4. Regressions of Alcohol Percentage against the Heat Index -- 16.5. Conclusion.

The chapters of this book provide a better understanding of wine economics, by addressing new issues such as sustainable development, food authenticity, financial expectations and consumption economics. Many of the discussed topics have been recently developed by economists (e.g. global warming and wine tourism) despite having been mostly covered by specialists in management, marketing and geography. Other fields correspond to new investigations of traditional topics, such as ranking wines or consumer behaviour, and new analyses in strategic choice (for example how to bottle wine or to sell bulk wine, to select grape varieties at replanting, to distinguish attitudes, intentions and behaviour in exporting). Wine Economics draws attention to the positioning of different market players and explores alternative regulations for public policy.

ISBN: 9781137289520 (electronic bk.)

Source: 646851Palgrave Macmillanhttp://www.palgraveconnect.comSubjects--Topical Terms:

227970
Wine industry.
Index Terms--Genre/Form:

96803
Electronic books.

LC Class. No.: HD9370.5

Dewey Class. No.: 338.476632

Wine economics : = quantitative studies and empirical applications /
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245 0 0 $a Wine economics : $b quantitative studies and empirical applications / $c edited by Marie-Claude Pichery, Eric Giraud-H�eraud.
264 1 $a Basingstoke : $b Palgrave Macmillan, $c 2013.
300 $a 1 online resource (xxii, 368 pages)
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490 1 $a Applied Econometrics Association series
504 $a Includes bibliographic references and index.
505 0 $a PART I: ALCOHOL CONSUMPTION AND WELFARE -- 1. Life Satisfaction and Alcohol Consumption: an Empirical Analysis of Self-Reported Life Satisfaction and Alcohol Consumption in OECD countries; Jan Bentzen and Valdemar Smith -- 1.1. Introduction -- 1.2. Literature Review and Issues in the Happiness-income -- 1.3. Modelling of the Happiness-alcohol Relationship -- 1.4. Alcohol Consumption and Life Satisfaction -- 1.5. Estimating the Happiness-alcohol Model -- 1.6. Conclusions -- 2. Advertising and the Demand for (non)Alcoholic Beverages; Ruben Hoffman and Yves Surry -- 2.1. Introduction -- 2.2. The Alcohol Market -- 2.3. Optimal Alcohol Tax Model -- 2.4. Calibration Case Study -- 2.5. Conclusion -- 3. Alcohol Demand, Externalities and Welfare Maximising Alcohol Taxes; James Fogarty -- 3.1. Introduction -- 3.2. Model Framework -- 3.3. Data and Estimation Procedure -- 3.4. Empirical Results -- 3.5. Conclusion -- PART II: CONSUMERS' BEHAVIOURS AND PRICES -- 4. The Economic Value of Wine Names that Reference Place in the US Market: Analysis of 'Champagne' and Sparking Wine; Hyunok Lee and Daniel A. Sumner -- 4.1. Introduction -- 4.2. Previous Econometric Research on Wine Place Names -- 4.3. Data Source and Data Description -- 4.4. Econometric Estimation of the Hedonic Price Equations with Market Data -- 4.5. Econometric Results and Interpretations of the Price Equation for Sparkling Wine Sold in the United States -- 4.6. Conclusion -- 5. The Price of Wine: Does the Bottle Size Matter?; Jean-Fra�nois Outreville -- 5.1. Introduction -- 5.2. Does the Bottle Matter? -- 5.3. A Measure of the Relative Scaled Price Index -- 5.4. The Market Price of Large Bottles at Auctions -- 5.5. Conclusion and Suggestions for Further Research -- 6. Wine Judging and Tasting; Matteo Galizzi -- 6.1. Introduction -- 6.2. Literature Review -- 6.3. The Wine Judging System and Experts' Panels in Italy: A Price Formation Model? -- 6.4. The Three Main Professional Guides in Italy, and their Data on Wines and Awards -- 6.5. Empirical Analysis and Results: The Awards by the Professional Guides in 2008 -- 6.6. Conclusion -- 7. Willingness to Pay for Appellations of Origin: Results of an Experiment with Pinot Noir Wines in France and Germany; Pascale Bazoche, Pierre Combris, Eric Giraud-�Hraud and Jean-Baptiste Traversac -- 7.1. Introduction -- 7.2. Willingness to Pay (WTP) for Protected Designation of Origin and Other Wine Characteristics -- 7.3. Experiment Design and Method -- 7.4. Data and Results -- 7.5. Conclusion -- PART III: WINE RANKING AND FINANCIAL ISSUES -- 8. How Best to Rank Wines: Majority Judgment; Michel Balinski and Rida Laraki -- 8.1. Introduction -- 8.2. Traditional Amalgamation Schemes and the 'Judgment of Paris' -- 8.3. Why the Traditional Amalgamation Schemes Fail -- 8.4. Majority Judgment -- 8.5. Majority Judgment in Use -- 8.6. Conclusion -- 9. Wine as an Alternative Asset Class; Philippe Masset and Jean-Philippe Weisskopf -- 9.1. Introduction -- 9.2. Investment Opportunities on the Market for Fine Wine -- 9.3. Academic Literature -- 9.4. Empirical Study of the Market for Fine Wine -- 9.5. The Case of the US Wine Market -- 9.6. The Case of the Swiss Wine Market -- 9.7. Conclusion -- 10. Financial Reaction to Business Cycle in Period of Difficulties: the Case of French Wine Companies; Paul Amadieu, Jean-Pierre Couderc and Jean-Laurent Viviani -- 10.1. Introduction -- 10.2. Theoretical Foundations of Hypotheses -- 10.3. Data, Variables and Method -- 10.4. Results -- 10.5. Conclusion -- PART IV: INTERMEDIARY MARKETS AND STRATEGIC DECISIONS -- 11. The Technical Efficiency of Wine Grape Growers in the Murray-Darling Basin in Australia; Tim Coelli and Orion Sanders -- 11.1. Introduction -- 11.2. Sample Data and Variable Selection -- 11.3. Methods -- 11.4. Empirical Results -- 11.5. Conclusion -- 12. Product Assortment and the Efficiency of Farms; Gordana Manevska-Tasevska -- 12.1. Introduction -- 12.2. Dimensions of Product Assortment -- 12.3. Method -- 12.4. Data and Variables -- 12.5. Results -- 12.6. Discussion and Conclusions -- 13. Determinants of Wine Bottling Strategic Decisions: Empirical Evidences from the Italian Wine Industry; Giulio Malorgio, Cristina Grazia, Francesco Caracciolo and Carla De Rosa -- 13.1. Introduction -- 13.2. Conceptual Framework -- 13.3. Data, Variables, and Model Specification -- 13.4. Results -- 13.5. Discussion and Final Remarks -- 14. Export Intentions of Wineries; Isabel Barda�j, Belen Iraizoz and Julio Estavillo -- 14.1. Introduction -- 14.2. Theoretical Foundation and Hypothesis Development -- 14.3. Research Design -- 14.4. Results -- 14.5. Conclusion -- PART V: NEW TOPICS -- 15. Wine Tourism and On-Site Wine Sales; Fra�noise Bensa and Marie-Claude Pichery -- 15.1. Introduction -- 15.2. The Actors of Wine Tourism and their Expectations -- 15.3. Wine Tourism in Terms of Experiential Marketing -- 15.4. Methodology -- 15.5. Analysis of Results -- 15.6. Conclusion -- 16. The High and Rising Alcohol Content of Wine; Julian M. Alston, Robert Mondavi, Kate Fuller, James Lapsley, George Soleas and Kabir Tumber -- 16.1. Introduction -- 16.2. Increasing Sugar Content in California Grapes -- 16.3. International Evidence on the Rising Alcohol Content of Wine -- 16.4. Regressions of Alcohol Percentage against the Heat Index -- 16.5. Conclusion.
520 $a The chapters of this book provide a better understanding of wine economics, by addressing new issues such as sustainable development, food authenticity, financial expectations and consumption economics. Many of the discussed topics have been recently developed by economists (e.g. global warming and wine tourism) despite having been mostly covered by specialists in management, marketing and geography. Other fields correspond to new investigations of traditional topics, such as ranking wines or consumer behaviour, and new analyses in strategic choice (for example how to bottle wine or to sell bulk wine, to select grape varieties at replanting, to distinguish attitudes, intentions and behaviour in exporting). Wine Economics draws attention to the positioning of different market players and explores alternative regulations for public policy.
520 $a "The chapters of this book provide a better understanding of wine economics, by addressing new issues such as sustainable development, food authenticity, financial expectations and consumption economics. Many of the discussed topics have been recently developed by economists (e.g. global warming and wine tourism) despite having been mostly covered by specialists in management, marketing and geography. Other fields correspond to new investigations of traditional topics, such as ranking wines or consumer behaviour, and new analyses in strategic choice (for example how to bottle wine or to sell bulk wine, to select grape varieties at replanting, to distinguish attitudes, intentions and behaviour in exporting). Wine Economics draws attention to the positioning of different market players and explores alternative regulations for public policy"--back cover.
588 $a Description based on print version record.
650 0 $a Wine industry. $3 227970
650 0 $a Wine industry $x Economic aspects. $3 227971
650 7 $a BUSINESS & ECONOMICS / Industries / General $2 bisacsh $3 227609
655 4 $a Electronic books. $2 local. $3 96803
700 1 $a Pichery, Marie-Claude, $e editor of compilation. $3 227968
700 1 $a Giraud-H�eraud, �Eric, $e editor of compilation. $3 227969
776 0 8 $i Print version: $t Wine economics $z 9781137289513 $w (OCoLC)829055914
830 0 $a Applied Econometrics Association series. $3 227967
856 4 0 $3 Palgrave Connect $u http://www.palgraveconnect.com/doifinder/10.1057/9781137289520
994 $a C0 $b TEF