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Home
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Working Papers
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Does the bottle size matter? An investigation into differences between posted and market prices

Working Paper No. 86

Published: 2011
Category:
Economics

Does the bottle size matter? An investigation into differences between posted and market prices

J. François Outreville
Full Text PDF
Abstract
What determines wine prices? The question is obviously not new but the most recent papers dealing with this subject tend to go beyond a simple competitive market where the prices are the result of supply and demand. There is more than the price of wine in a bottle. The decision to market wine in a different bottle size is considered to have more to do with the judgment of taste and the feeling of pleasure than other factors. Does size matter? In this short paper we investigate the relationship between price and the size of the bottle for the same wine. We find that in the case of Champagne, the posted price of wine increases more than proportionally with the size of the bottle. However, this result does not fully hold for Bordeaux wines when we consider auction prices for large bottles.

Submission

Please send your papers as PDF files to the editor, Victor Ginsburgh, at vginsbur@ulb.ac.be
Papers will be quickly reviewed, prior to potential posting on the website. Decision will be to post or not, possibly with short comments, but without referee reports. The decision will be based primarily on the suitability of the paper’s topic to the aims of the Association.
Such decisions are independent of publication decisions for the Journal of Wine Economics.

Working Paper publication requires that at least one author
is a regular member of AAWE.

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