Handbook Of The Economics Of Wine (In 2 Volumes) Book

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Handbook Of The Economics Of Wine (In 2 Volumes)

By Gergaud Olivier,Ashenfelter Orley,Ziemba William T
  • ISBN Code: : 9813232730
  • Publisher : World Scientific
  • Pages : 1048
  • Category : Business & Economics
  • Reads : 160
  • Book Compatibility : Pdf, ePub, Mobi, Kindle
  • Pdf : handbook-of-the-economics-of-wine.pdf

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.

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  • Publisher : Routledge
  • Book Code : 1351342495
  • Total of Pages : 360
  • Category : Business & Economics
  • Members : 653
  • Pdf File: revival.pdf

Book Short Summary:

An overview of the woollen and worsted industries in England in the 1900s.

The Oxford Companion to English Literature

By Dinah Birch
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : OUP Oxford
  • Book Code : 0191030848
  • Total of Pages : 1184
  • Category : Literary Criticism
  • Members : 775
  • Pdf File: the-oxford-companion-to-english-literature.pdf

Book Short Summary:

The Oxford Companion to English Literature has long been established as the leading reference resource for students, teachers, scholars, and general readers of English literature. It provides unrivalled coverage of all aspects of English literature - from writers, their works, and the historical and cultural context in which they wrote, to critics, literary theory, and allusions. For the seventh edition, the Companion has been thoroughly revised and updated to meet the needs and concerns of today's students and general readers. Over 1,000 new entries have been added, ranging from new writers - Chimamanda Ngozi Adichie, Patrick Marber, David Mitchell, Arundhati Roy - to increased coverage of writers and literary movements from around the world. Coverage of American literature has been substantially increased, with new entries on writers such as Cormac McCarthy and Amy Tan and on movements and publications. Contextual and historical coverage has also been expanded, with new entries on European history and culture, post-colonial literature, as well as writers and literary movements from around the world that have influenced English literature. The Companion has always been a quick and dependable source of reference for students, and the new edition confirms its pre-eminent role as the go-to resource of first choice. All entries have been reviewed, and details of new works, biographies, and criticism have been brought right up to date. So also has coverage of the themes, approaches and concepts encountered by students today, from terms to articles on literary theory and theorists. There is increased coverage of writers from around the world, as well as from Ireland, Scotland, and Wales, and of contextual topics, including film and television, music, and art. Cross-referencing has been thoroughly updated, with stronger linking from writers to thematic and conceptual entries. Meanwhile coverage of popular genres such as children's literature, science fiction, biography, reportage, crime fiction, fantasy or travel literature has been increased substantially, with new entries on writers from Philip Pullman to Anne Frank and from Anais Nin to Douglas Adams. The seventh edition of this classic Companion - now under the editorship of Dinah Birch, assisted by a team of 28 distinguished associate editors, and over 150 contributors - ensures that it retains its status as the most authoritative, informative, and accessible guide to literature available.

HIV/AIDS and the Social Consequences of Untamed Biomedicine

By Graham Fordham
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Routledge
  • Book Code : 1317632737
  • Total of Pages : 384
  • Category : Social Science
  • Members : 198
  • Pdf File: hiv-aids-and-the-social-consequences-of-untamed-biomedicine.pdf

Book Short Summary:

Drawing on the case of HIV/AIDS in Thailand, this book examines how anthropological and other interpretative social science research has been utilized in modeling the AIDS epidemic, and in the design and implementation of interventions. It argues that much social science research has been complicit with the forces that generated the epidemic and with the social control agendas of the state, and that as such it has increased the weight of structural violence bearing upon the afflicted. The book also questions claims of Thai AIDS control success, arguing that these can only be made at the cost of excluding categories such as intravenous drug users, the incarcerated, and homosexuals, who continue to experience extraordinarily high levels of levels of HIV infection. Considered deviant and undeserving, these persons have deliberately been excluded from harm reduction programs. Overall, this work argues for the untapped potential of anthropological research in the health field, a confident anthropology rooted in ethnography and a critical reflexivity. Crucially, it argues that in context of interdisciplinary collaborations, anthropological research must refuse relegation to the status of an adjunct discipline, and must be free epistemologically and methodologically from the universalizing assumptions and practices of biomedicine.

Manual of Library Cataloguing

By John Henry Quinn
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Good Press
  • Book Code : N.a
  • Total of Pages : 584
  • Category : Fiction
  • Members : 900
  • Pdf File: manual-of-library-cataloguing.pdf

Book Short Summary:

"Manual of Library Cataloguing" by John Henry Quinn. Published by Good Press. Good Press publishes a wide range of titles that encompasses every genre. From well-known classics & literary fiction and non-fiction to forgotten−or yet undiscovered gems−of world literature, we issue the books that need to be read. Each Good Press edition has been meticulously edited and formatted to boost readability for all e-readers and devices. Our goal is to produce eBooks that are user-friendly and accessible to everyone in a high-quality digital format.

Proceedings, American Philosophical Society (vol. 50, 1911)

By
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : American Philosophical Society
  • Book Code : 9781422372609
  • Total of Pages :
  • Category :
  • Members : 451
  • Pdf File: proceedings-american-philosophical-society.pdf

Book Short Summary:

Read and download full book Proceedings, American Philosophical Society (vol. 50, 1911)

Atlas of Emotion

By Giuliana Bruno
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Verso Books
  • Book Code : 1786633248
  • Total of Pages : 512
  • Category : Art
  • Members : 794
  • Pdf File: atlas-of-emotion.pdf

Book Short Summary:

An award-winning cultural history of how we experience the world through art, film and architecture Atlas of Emotion is a highly original endeavor to map the cultural terrain of spatio-visual arts. In an evocative blend of words and pictures, Giuliana Bruno emphasizes the connections between “sight” and “site” and “motion” and “emotion.” In so doing, she touches on the art of Gerhard Richter and Louise Bourgeois, the filmmaking of Peter Greenaway and Michelangelo Antonioni, media archaeology and the origins of the museum, and her own journeys to her native Naples. Visually luscious and daring in conception, Bruno’s book opens new vistas and understandings at every turn.

Romanticism

By Duncan Wu
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : John Wiley & Sons
  • Book Code : 1118256573
  • Total of Pages : 1656
  • Category : Literary Criticism
  • Members : 769
  • Pdf File: romanticism.pdf

Book Short Summary:

This new edition of the groundbreaking Romanticism: AnAnthology is the only book of its kind to contain completetexts of a wide range of Romantic works, including Blake's Songsof Innocence and of Experience, The Marriage of Heaven andHell, and Urizen; Wordsworth and Coleridge's LyricalBallads (1798); Wordsworth's Two-Part Prelude; early andrevised versions of Coleridge's 'The Eolian Harp', 'This Lime-TreeBower my Prison', 'Frost at Midnight', and 'The Ancient Mariner';Shelley's Prometheus Unbound, Epipsychidion andAdonais; Byron's Childe Harold's Pilgrimage Canto IIIand Don Juan Dedication and Cantos I and II; and Keats'sOdes, the two Hyperions, Lamia,Isabella and The Eve of St Agnes. It also carriesexplanatory annotations and author headnotes. Updated toincorporate the latest scholarly findings, it remains the essentialtext on Romanticism. Don Juan Dedication and Cantos I and II; and Keats'sOdes, the two Hyperions, Lamia,Isabella and The Eve of St Agnes. It also carriesexplanatory annotations and author headnotes. Updated toincorporate the latest scholarly findings, it remains the essentialtext on Romanticism. Includes all texts from the third edition, with theaddition of Keats's Isabella and Shelley'sEpipsychidion, as well as a selection of the poems of WalterScott Includes a wider and deeper selection of texts by the Big Sixmale poets (Blake, Wordsworth, Coleridge, Keats, Byron and Shelley)than any competing volume Includes a generous range of texts by female Romanticpoets All editorial materials, including annotations, authorheadnotes, and prefatory materials, have been revised for the newedition The only book to contain complete texts, edited for this volumefrom manuscript and early printed sources by Wu, along withexplanatory annotations and author headnotes Contains everything teachers and students require for anin-depth survey of the principal writings to emerge from theBritish Romantic period The most widely-used teaching anthology in the field in theUK Companion website features a dynamic timeline detailingsignificant events of the romantic period and providing images,suggestions for further reading and useful links to other onlineresources: ahref="http://www.romanticismanthology.com/"www.romanticismanthology.com/a

British Women's Writing from Brontë to Bloomsbury, Volume 1

By Adrienne E. Gavin,Carolyn W. de la L. Oulton
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Springer
  • Book Code : 3319782266
  • Total of Pages : 278
  • Category : Literary Criticism
  • Members : 443
  • Pdf File: british-women-s-writing-from-brontë-to-bloomsbury-volume-1.pdf

Book Short Summary:

This five-volume series, British Women’s Writing From Brontë to Bloomsbury, 1840-1940, historically contextualizes and traces developments in women’s fiction from 1840 to 1940. Critically assessing both canonical and lesser-known British women’s writing decade by decade, it redefines the landscape of women’s authorship across a century of dynamic social and cultural change. With each of its volumes devoted to two decades, the series is wide in scope but historically sharply defined. Volume 1: 1840s and 1850s inaugurates the series by historically and culturally contextualizing Victorian women’s writing distinctly within the 1840s and 1850s. Using a range of critical perspectives including political and literary history, feminist approaches, disability studies, and the history of reading, the volume’s 16 original essays consider such developments as the construction of a post-Romantic tradition, the politicization of the domestic sphere, and the development of crime and sensation writing. Centrally, it reassesses key mid-nineteenth-century female authors in the context in which they first published while also recovering neglected women writers who helped to shape the literary landscape of the 1840s and 1850s.

A Research Guide to Gothic Literature in English

By Sherri L. Brown,Carol Senf,Ellen J. Stockstill
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Rowman & Littlefield
  • Book Code : 1442277483
  • Total of Pages : 252
  • Category : Literary Criticism
  • Members : 591
  • Pdf File: a-research-guide-to-gothic-literature-in-english.pdf

Book Short Summary:

The Gothic began as a designation for barbarian tribes, was associated with the cathedrals of the High Middle Ages, was used to describe a marginalized literature in the late eighteenth century, and continues today in a variety of forms (literature, film, graphic novel, video games, and other narrative and artistic forms). Unlike other recent books in the field that focus on certain aspects of the Gothic, this work directs researchers to seminal and significant resources on all of its aspects. Annotations will help researchers determine what materials best suit their needs. A Research Guide to Gothic Literature in English covers Gothic cultural artifacts such as literature, film, graphic novels, and videogames. This authoritative guide equips researchers with valuable recent information about noteworthy resources that they can use to study the Gothic effectively and thoroughly.

Catalogue of Books, Engravings and Autographs relating to Napoleon the First

By Francis Edwards
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Рипол Классик
  • Book Code : 5875721367
  • Total of Pages :
  • Category : History
  • Members : 593
  • Pdf File: catalogue-of-books-engravings-and-autographs-relating-to-napoleon-the-first.pdf

Book Short Summary:

Read and download full book Catalogue of Books, Engravings and Autographs relating to Napoleon the First

The iconography of Manhattan Island

By I.N. Phelps Stokes
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Рипол Классик
  • Book Code : 5871799507
  • Total of Pages : 10
  • Category : History
  • Members : 759
  • Pdf File: the-iconography-of-manhattan-island.pdf

Book Short Summary:

The iconography of Manhattan Island, 1498-1909 compiled from original sources and illustrated by photo-intaglio reproductions of important maps, plans, views, and documents in public and private collections

The Business Side of Agriculture

By Arthur, G.L. Rogers
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Routledge
  • Book Code : 0429868227
  • Total of Pages : 164
  • Category : Business & Economics
  • Members : 405
  • Pdf File: the-business-side-of-agriculture.pdf

Book Short Summary:

First Published in 1906, this book discusses farming in Britain, as well as exploring the business interests and concerns of the farmer whilst debating the future of traditional farming methods.

Contextualizing Melodrama in the Czech Lands

By Judith A. Mabary
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Routledge
  • Book Code : 1000168913
  • Total of Pages : 244
  • Category : Music
  • Members : 908
  • Pdf File: contextualizing-melodrama-in-the-czech-lands.pdf

Book Short Summary:

The mention of the term "melodrama" is likely to evoke a response from laymen and musicians alike that betrays an acquaintance only with the popular form of the genre and its greatly heightened drama, exaggerated often to the point of the ridiculous. Few are aware that there exists a type of melodrama that contains in its smaller forms the beauty of the sung ballad and, in the larger-scale works, the appeal of the spoken play. This category of melodrama is one that surfaced in many cultures but was perhaps never so enthusiastically cultivated as in the Czech lands. The melodrama varied greatly at the hands of its Czech advocates. While the works of Zdeněk Fibich and his contemporary Josef Bohuslav Foerster, a composer best known for his songs, remained closely bound to the text, those of conductor/composer Otakar Ostrčil reveal a stance that privileged the music and, given their creator’s orchestral experience, are more reminiscent of the symphonic poem. Fibich in his staged works and Josef Suk (composer/violinist and Dvořák’s son-in-law), in his incidental music reflect variously late nineteenth-century Romanticism, the influence of Wagner, and early manifestations of Impressionism. In its more recent guise, the principles of the staged melodrama reside quite comfortably in the film score. Judith A. Mabary’s important volume will be of interest not only to musicologists, but those working in Central and East European studies, voice studies, European theatre, and those studying music and nationalism.

Tennyson and the Fabrication of Englishness

By M. Sherwood
  • File : Pdf, ePub, Mobi, Kindle
  • Publisher : Springer
  • Book Code : 1137288906
  • Total of Pages : 230
  • Category : Literary Criticism
  • Members : 386
  • Pdf File: tennyson-and-the-fabrication-of-englishness.pdf

Book Short Summary:

Through an examination of Tennyson's 'domestic poetry' - his portrayals of England and the English - in their changing nineteenth-century context, this book demonstrates that many of his representations were 'fabrications', more idealized than real, which played a vital part in the country's developing identity and sense of its place in the world.