In: Applied Econometrics Association Series
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-Francois 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
In: Applied Econometrics Association series
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
In: Applied Econometrics Association series
In: Applied Econometrics Association Ser.
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 bu
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