Wine Economics
Stefano Castriota
Foreword by Orley Ashenfelter
Translated by Judith Turnbull
The MIT Press
Cambridge, Massachusetts
London, England
2020 Massachusetts Institute of Technology
This work is subject to a Creative Commons CC-BY-NC-ND license. Subject to such license, all rights are reserved.
![The open access edition of this book was made possible by generous funding from - photo 1](/uploads/posts/book/247492/images/by-nc-nd.png)
The open access edition of this book was made possible by generous funding from Arcadiaa charitable fund of Lisbet Rausing and Peter Baldwin.
![The translation of this work has been funded in part by these organizations - photo 2](/uploads/posts/book/247492/images/Arcadia.png)
The translation of this work has been funded in part by these organizations:
SEPSSegretariato Europeo per le Pubblicazioni Scientifiche
![Via Val dAposa 740123 BolognaItaly Consorzio di Tutela Barolo Barbaresco Alba - photo 3](/uploads/posts/book/247492/images/SEPSLOGO.png)
Via Val dAposa 740123 BolognaItaly,
Consorzio di Tutela Barolo Barbaresco Alba Langhe e Dogliani
![wwwlangheviniit This book was originally published as Economia del Vino in - photo 4](/uploads/posts/book/247492/images/Logo-CONSORZIO-CMYK-HIGH-RES.png)
www.langhevini.it
This book was originally published as Economia del Vino in 2015 by Egea S.P.A.
Library of Congress Cataloging-in-Publication Data
Title: Wine economics / Stefano Castriota ; foreword by Orley Ashenfelter; translated by Judith Turnbull.
Other titles: Economia del vino. English
Description: Cambridge, Massachusetts : MIT Press, [2020] | Includes bibliographical references and index.
Identifiers: LCCN 2020003044 | ISBN 9780262044677 (hardcover)
Subjects: LCSH: Wine industry. | Wine and wine-makingEconomic aspects.
Classification: LCC HD9370.5 .C37513 2020 | DDC 338.4/76632dc23
LC record available at https://lccn.loc.gov/2020003044
d_r0
Contents
- List of Figures
- World wine production (million tonnes).
- Italian wine production (million hectoliters).
- Table grapes as share of total grapes produced in Italy (%).
- Share of world production (% of total quantities), 1961.
- Share of world production (% of total quantities), 2014.
- Wine production as % share of total hectoliters, by continent.
- World wine consumption (million hectoliters).
- Annual total per capita alcohol consumption, Western Europe (liters).
- Annual total per capita alcohol consumption, New World (liters).
- Annual total per capita alcohol consumption, Europe and New World (liters).
- Annual total per capita wine consumption in liters of pure alcohol, 2014.
- Share of annual per capita pure alcohol attributable to wine (%), Western Europe.
- Share of annual per capita pure alcohol attributable to wine (%), New World.
- Share of annual per capita pure alcohol attributable to wine (%), northern and southern Europe.
- Standard deviation of the annual per capita share of pure alcohol attributable to wine, Western European and New/Old World countries.
- Per capita consumption of alcohol by type of beverage in the United States (gallons).
- Share of per capita consumption of alcohol by type of beverage in the United States (%).
- World wine exports, billion $ constant 2017 terms (left axis) and million tonnes (right axis).
- Share of world wine exported (as % of total quantities).
- Share of world export of wine (as % of total quantities), 1961.
- Share of world export of wine (as % of total quantities), 2016.
- Share of world export of wine (as % of total values), 1961.
- Share of world export of wine (as % of total values), 2016.
- Average export price of wine (US$ per kilogram), 2016.
- Average export price of wine (current US$ per kilogram), New versus Old World.
- Share of the world surface area cultivated with the top 30 red vines.
- Share of the world surface area cultivated with the top 30 white vines.
- Porters five forces model.
- Distribution of ROIC of Italian wineries, 2015.
- Cumulative distribution of ROIC of Italian wineries, 2015.
- Type of market structure.
- Short-term costs and revenues in perfect competition.
- Long-term supply curve in perfect competition.
- Long-term costs and revenues in perfect competition.
- Short-term costs and revenues in monopoly.
- Consumer and producer surplus in perfect competition.
- Consumer and producer surplus in monopoly.
- Long-term demand and marginal revenues in monopolistic competition.
- Long-term costs and revenues in monopolistic competition.
- Costs and revenues in monopsony.
- Type of company and level of vertical integration.
- Structure of the wine cluster.
- The indifference curve.
- Portfolio risk and number of assets.
- Portfolio expected return and standard deviation.
- Identification of the optimal portfolio.
- SML and an asset with positive .
- Structure of the sample of firms used in the study of firm reputation.
- Average collective reputation by number of producers.
- The pyramid of institutional reputation in the old (a) and new (b) wine classification systems.
- Supply curve with negative externalities.
- Percent share of disability-adjusted life years attributable to alcohol in the world, 2012.
- Percentage of deaths attributable to alcohol abuse around the world, 2016.
- List of Boxes
- A simple model of constrained utility maximization applied to the consumption of alcoholic beverages.
- Methodological issues in empirical studies on wine quality.
- Methodological issues in empirical studies on wine price.
- Brief history of Italian cooperatives.
- The ICA definition, values, and principles of cooperatives.
- Why is the cooperative movement so important in Italy?
- Annex 1C: Trade-Related Aspects of Intellectual Property Rights, Marrakesh Agreement establishing the World Trade Organization, signed in Marrakesh, Morocco on 15 April 1994.
- List of Tables
- Consumption of pure alcohol by type of beverage (%), year 2010.
- Favorite beverage, 2010.
- Export of Italian wine according to mode of transportation (%).
- Share (%) of EU-27 wine exported by air.
- Cost of sea transport as % of value of wine (ad valorem).
- Main innovations in the wine sector.
- Total world wine production and consumption (1,000 hectoliters).
- Comparative analysis of the characteristics of the Old and New World.
- Number of native vines by country.
- Varietal similarity index.
- Determinants of wine price.
- Quality determinants of wine, Veronelli Guide 20042009.
- Price determinants of wine, Veronelli Guide 20042009.
- Porters five forces in the wine sector.
- Owner/founder motivation and company objectives.
- Legal form of companies and corporate objectives.
- Number of cooperative members in the world, 2013.
- Population density of main wine-producing countries.
- The top 25 wineries in Italy by turnover.
- Main results on investments in bottles of wine.
- Individual, collective, and institutional reputation.
- Old wine classification systems in Europe in descending order of quality.
- Appellations in the Old and New World, 2013.
- Harm from alcohol abuse (years of life corrected for disability every 100,000 inhabitants), 2004.
Next page