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Home
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Working Papers
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What Can I Still Afford to Drink?

Working Paper No. 254

Published: 2020
Category:
Economics

What Can I Still Afford to Drink?

Neal D. Hulkower
Full Text PDF
Abstract
Using data from a sample of 450 records of wines the author tasted between 1969 and 1979, an analysis was conducted to determine which of those that are still available and which of more recent vintages that are the same age as those tasted in the 1970s are affordable. Average prices were obtained from wine-searcher.com on 30 April and 1 May 2020. These were compared to those predicted by the Bureau of Labor Statistics wine price inflation factors. The highest price paid for a bottle in the author’s collection as of 1 May 2020, $142.50, was used as the upper limit of affordability. Of the 92 wines tasted between 1969 and 1979 that are still available, 17 cost less than $142.50. Of the 105 wine of recent vintages, 68 are under the limit. Current price over the inflated price of the original wines ranges from 2.42 to 260.72. The price of recent vintages over inflated price ranges from 0.62 to 60.67 with 88 of the 105 over 2. These ratios suggest that the wine inflation factors are poor predictors of future prices.

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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