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Wine Economics

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lightbulbAbout this topic
Wine Economics is the study of the economic aspects of the wine industry, encompassing production, distribution, consumption, and market dynamics. It analyzes factors influencing wine pricing, trade policies, consumer behavior, and the impact of globalization on wine markets, integrating principles from economics, business, and agricultural sciences.
lightbulbAbout this topic
Wine Economics is the study of the economic aspects of the wine industry, encompassing production, distribution, consumption, and market dynamics. It analyzes factors influencing wine pricing, trade policies, consumer behavior, and the impact of globalization on wine markets, integrating principles from economics, business, and agricultural sciences.

Key research themes

1. How do economic policies and governance structures shape the European wine market's production and trade dynamics?

This research area investigates the influence of European Union (EU) policies, specifically the system of appellations (Geographical Indications, GIs) and related regulatory frameworks, on the organization of wine production, supply controls, and international trade. It explores how policy interventions affect market equilibrium, price formation, firm profitability, and international competitiveness amid structural reforms and globalization.

Key finding: The study finds that while the historical system of European wine appellations (AOC and its EU-harmonized counterparts) initially addressed quality signalling and the 'lemons' problem effectively, the regulatory rigidity... Read more
Key finding: Using a Public Choice framework, this work analyzes the complex bargaining and lobbying processes behind EU wine policies, focusing on Regulation 479/2008 and subsequent market organization reforms. It reveals how state... Read more
Key finding: This paper develops a financial analysis of Old World wine firms, establishing a positive relationship between prolonged cash conversion cycles and firm profitability. It underscores the strategic importance of working... Read more

2. What are the key macroeconomic and climatic drivers influencing global and European Union wine production and trade patterns?

This theme encompasses analyses examining the effects of macroeconomic factors—such as monetary policy, labor, capital, and exchange rates—and environmental forces, notably climate change, on the spatial distribution, yield, and trade flows of wine production globally and within the EU. Research in this area focuses on modeling supply responses, productivity variations, and adaptation strategies in the context of shifting competitive positions between traditional and emerging wine-producing regions.

Key finding: Using an expanded Cobb-Douglas production function and dynamic panel GMM estimation for 1999-2014, the authors identify labor, capital, and wine exports as positively impacting EU wine production, while the interest rate... Read more
Key finding: This study empirically models grapevine acreage and yield responses to climate variables across global wine-producing regions, distinguishing Old World and New World producers. It finds that higher summer temperatures... Read more
Key finding: By integrating Ricardian trade and climate models with gravity trade analysis, this paper demonstrates that rising temperatures in main wine-producing regions positively affect both production and exports. Additionally, it... Read more

3. How do product characteristics and market perceptions influence wine pricing and consumer preferences in diverse wine markets?

This research examines determinants of wine prices and consumer valuation, focusing on intrinsic and extrinsic product attributes including closure type, regional identity, aging, and label information. Hedonic pricing models and consumer behaviour studies analyze how these factors serve as quality signals under uncertainty, affect willingness-to-pay, and guide market segmentation and positioning strategies. The theme also explores consumer preferences and their interdisciplinary foundations in various geographic contexts.

Key finding: Utilizing over 1 million weekly scanner observations across ten U.S. markets (2009-2012), the study finds an average 8% price premium (~$1) paid by consumers for cork-closed bottles versus screw-cap closures among wines... Read more
Key finding: This comprehensive review synthesizes 117 hedonic pricing studies from 1993 to 2018, categorizing wine price determinants into clusters: geographical and agricultural factors, temporal aspects (vintage, bottle age), public... Read more
Key finding: The study articulates how regional identity encapsulated by terroir—which includes soil, climate, topography, and cultural practices—plays a pivotal role in shaping wine evaluation and commercial positioning beyond sensory... Read more
Key finding: Based on an empirical survey of North Croatian consumers, this study profiles wine consumer demographics and preferences, confirming that age significantly affects consumption frequency and that white wine predominates in... Read more

All papers in Wine Economics

El artículo analiza unos establecimientos de restauración de Tenerife, en Islas Canarias, España, denominados “guachinches”, destacando su relevancia en la economía informal y su papel como elementos clave en la cultura y sociedad... more
El capítulo inicia, después de la introducción, con un apartado en que se plantean los conceptos básicos de desarrollo territorial e innovación social, y se describe el proyecto general para el que se ideó el modelo de intervención. A... more
Au moment de remettre le résultat d'un travail long de sept années, je ne peux m'empêcher d'avoir une pensée émue autant que nostalgique pour les maîtres qui m'ont formé et qui ne sont plus de ce monde. Je pense d'abord à Marcel Vigreux,... more
The entry into force of the U-LABEL regulation in the EU ((2021/2117, scheduled for December 8, 2023), could foster a technological gap in the viticulture of emerging countries, where the awareness of climatic qualities and paedological... more
When it comes to wine communication, winery names can serve as multidimensional communication mechanisms. Their various aspects of communication concern the historical context, tourism geography, socioeconomic tourism development, wine... more
Wine communication management is a continuous effort to deliver a communication framework that is built on many factors such as the terroir, the grape variety, the geographical indication, the geomorphological profile of each wine zone,... more
The aim of the paper was to evaluate the economic efficiency of beekeeping and olive production, and the development possibilities of a selected beekeeping and olive production family farm in the area of Marina Municipality, SplitDalmatia... more
In passato la descrizione morfologica delle piante e in particolare dei vitigni, nonché lo studio delle attitudini di adattamento al clima, al terreno, alla resistenza alle malattie e alle intemperie erano il risultato della raccolta di... more
La dimensión conocimiento ha sido abordada por diversas disciplinas, desde la psicología (Rodrigo y Arnay, 1997) hasta la economía (Boscherini y Poma, 2000; David y Foray, 2002) pasando por la sociología (Lowy, 1991) y aprovechado en la... more
New excavations carried out in the northern part of the ancient promontory of Utica have allowed the definition of stratigraphic sequences dated by ceramics of varied production : Phoenician, Greek, Sardinian and local. In this paper, we... more
In the last week of February 2020, Sfriso Winery, a small, family-owned winery in the countryside of northeastern Italy, was forced to indefinitely suspend operations as one of the first wine businesses affected by the crisis resulting... more
In the last week of February 2020, Sfriso Winery, a small, family-owned winery in the countryside of northeastern Italy, was forced to indefinitely suspend operations as one of the first wine businesses affected by the crisis resulting... more
The Italian expression \u201ccoltura promiscua\u201d, internationally used (Meynier, 1958; Zimmermann, 1981; Meeus, and al., 1990; Pinto Correia 2005; Zimmermann, 2006), indicates the association between pollarded trees, vines and arable... more
Le "Giornate di Campagna" dell'Azienda Le Sette Aje sono un'occasione preziosa per attraversare la soglia di questa impresa agricola e condividere con la famiglia Cannata il loro lavoro quotidiano, i loro valori, la passione profonda che... more
Headlines about fraudulent activities in the wine industry are increasingly common in today's newspapers. A case in point involves wineries in Castilla-La Mancha, Spain, which sell their wine to wineries in other regions or countries.... more
front in gold letters. It is a process of change, and the crystallization of a substantial slice of your intellectual life" (Dunleavy, 2003, p. 226). My doctoral dissertation journey has indeed been a life-changing experience entailing a... more
This article aims to present the rarely examined process of rural gentrification in Poland via the example of the vineyard sector, which is a new and dynamically growing segment in the local agriculture. This paper uses quantitative data... more
Moderate wine consumption is, generally, the focus of various medical studies, while consumer behaviour research does not specifically centres on moderation in wine consumption. Wine consumption in moderation is an important part of... more
Purpose -The purpose of the paper was to discover new ways of extending the tourist season through wine tourism. The survey detected which factors are crucial for wine, positive "push" motives of "tourism terroir", wine consumption and... more
in Roma produttiva. Artigianato, manifattura e protoindustria nell'Urbe e in area laziale tra Medioevo e Rinascimento (XIII-XVI secolo) ISBN 978-88-85800-41-0 Il convegno è stato realizzato grazie al contributo concesso dalla Direzione... more
This paper examines the contested evolution of the concepts of natural and artificial wine in Spain with a focus in a period of profound socioeconomic transformation between 1850 and 1900. It explores how wine adulteration, initially... more
Georgia’s ancient winemaking traditions have gained international recognition through the modern natural wine movement. In the early 2000s, pioneering Georgian natural winemakers reintroduced traditional methods such as kvevri... more
This introduction explores the multifaceted phenomenon of natural wine, a movement redefining traditional winemaking through its emphasis on sustainability, terroir and authenticity. By engaging with winemakers, researchers, and... more
Cilj rada bio je utvrditi ekonomsku efikasnost pčelarske i maslinarske proizvodnje i razvojnu sposobnost odabranog pčelarsko-maslinarskog obiteljskog poljoprivrednog gospodarstva (OPG) koje se nalazi na području općine Marina u... more
This paper explores the intersection of vitalism, theology, and science in 19th and 20th century Spanish winemaking, focusing on the influential figures of Lucio Bascuñana and Eduardo Vitoria. Both men were engaged in the complex debate... more
This essay examines the parallels between winemaking and child development as practices of intervention within responsive systems. Both are shaped by initial conditions and external expectations. The essay considers how people intervene... more
stóp zwrotu portfeli zbudowanych w oparciu o klasyczny model Markowitza z portfelami efektywnymi minimalizującymi semiwariancję od założonej stopy zwrotu. Przeanalizowano podstawowe charakterystyki rozkładu stóp zwrotu oraz zbadano ich... more
stóp zwrotu portfeli zbudowanych w oparciu o klasyczny model Markowitza z portfelami efektywnymi minimalizującymi semiwariancję od założonej stopy zwrotu. Przeanalizowano podstawowe charakterystyki rozkładu stóp zwrotu oraz zbadano ich... more
The 6th Sharjah Biennial hosts 118 artists from 25 countries, in April. International Art Biennials have a long history. Venice is celebrating its 50th in June this year, as the original Biennial. Venice established certain protocols for... more
Aim of study: This study aims to analyse how psychological factors related to the Covid-19 lockdown affected the frequency of wine consumption among Iberian consumers.Area of study: To achieve this goal, we used data collected from an... more
Published as the lead feature in the special Sunday supplement of the Bengali daily Bartaman Patrika, this article investigates the historical trajectory and socio-political context of indigenous firearms manufacturing in India. The... more
Na temat znaczenia znajomości geologii i jej wpływu na jakość produkowanych win ukazało się wiele prac, jednak nie podają one w sposób precyzyjny i systematyczny zależności pomiędzy gatunkiem uprawianych winorośli a glebą, będącą wynikiem... more
Understanding how the regional identity influences the evaluation and commercial positioning of wine is critical in a business where authenticity and provenance can drive consumer behavior. While taste is still the most important factor... more
PERSONALITY DISORDERS Étiologies, diagnostics, thérapies au Moyen Âge et à la Renaissance
Purpose The purpose of this paper is to analyse the level of awareness of the topic of sustainability among Italian consumers in the wine sector and their perception – that is, what does it mean to consumers – of this issue.... more
The global wine industry is a fast-paced and competitive industry prone to the evolution of consumer preferences, sustainability challenges and generational turnovers within a family company context. With wine as a product of cultural... more
This paper aims at identifying and quantifying the connection between a winery business typology and its production cost per bottle in order to create benchmarks for managerial and organizational choices. •Design/methodology/approach... more
We tested the hypothesis that individuals may act differently when buying a bottle of wine for themselves than they do when buying wine as a gift. Using a between-subject design, we estimated the differences in consumer preference for... more
This paper aims at identifying and quantifying the connection between a winery business typology and its production cost per bottle in order to create benchmarks for managerial and organizational choices. Accounting data from wineries in... more
this paper explores the development of spanish wine legislation between 1860 and1932, focusing on the concept of fictio juris, a legal fiction that defines wine as aproduct derived solely from grape fermentation while permitting additives... more
Este capítulo tiene como objetivo proponer una periodización de la vitivinicultura en Baja California durante el siglo XX. En esta propuesta se incluyen fuentes, temas y problemáticas que se pueden explorar en cada etapa; está muy lejos... more
Es claro que el futuro del vino esta inexorablemente conectado con la vitalidad de la tierra y la salud de los humanos. Los vinicultores y viticultores deben entender tanto la condición de urgencia del planeta y su rol que juegan, aunque... more
Wineries in the “old world” export almost 40% of their production. This study analyzes the influence of vertical and horizontal networks on export performance. We draw on a sample of 183 Spanish wineries and examine the main independent... more
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