Article
Is Globalization Good for Wine Drinkers in the United States?
Journal of Wine Economics
(2007)
Abstract
To determine whether globalization is good for wine drinkers in the U.S., we examine the Wine Spectator's annual Top 100 lists, published since 1988. During this period, the average real price for these wines decreases from $43 to $26. Quality is consistent at around 93 points. Variety increases from six to twelve countries; the share of countries dominating the early lists declines from 95% to 75% over time. Our regression analysis indicates that when a New-New World wine replaces an Old World one, the average real price of the Top 100 list falls by 2.5%.
Disciplines
Publication Date
Fall 2007
DOI
10.1017/S1931436100000420
Citation Information
Omer Gokcekus and Andrew Fargnoli. "Is Globalization Good for Wine Drinkers in the United States?" Journal of Wine Economics Vol. 2 Iss. 2 (2007) p. 187 - 195 Available at: http://works.bepress.com/omer_gokcekus/7/