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JWE-Articles
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Journal of Wine Economics Volume 12 | 2017 | No. 4 | Selected Proceedings
»
Patterns of Relative Cost of Champagne by the Same Producer: Analysis of the Cost of Entry-Level, Mid-Range, and Flagship Champagne

Patterns of Relative Cost of Champagne by the Same Producer: Analysis of the Cost of Entry-Level, Mid-Range, and Flagship Champagne

Paul J. Merton
JEL Clasification: E31, H24
Pages: 426-435
Full Text PDF
Abstract

This paper examines the evolution of champagne prices in New York City from 1948 to 2013 by determining how many hours one must work, using after-tax income, to purchase a bottle of champagne. Each of the three brands analyzed—Bollinger, Louis Roederer, and Moët & Chandon—was divided into three tiers of nonvintage, vintage, and flagship champagne. The results indicated that all income groups worked fewer hours for entry-level nonvintage bottles of champagne, whereas the number of hours required to purchase flagship bottles gen- erally increased.

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