A comprehensive and interdisciplinary approach to the economics of the production, distribution, and consumption of wine.
The open access edition of this book was made possible by generous funding from Arcadia – a charitable fund of Lisbet Rausing and Peter Baldwin.
Wine economics is a growing subfield that examines the economics of the production, distribution, and consumption of wine. In this book, Stefano Castriota takes a comprehensive and interdisciplinary approach to the study of wine economics, drawing on literature from industrial organization, welfare economics, economic policy, political economy, management, finance, health economics, law, and criminology.
Castriota explores how wine markets operate and how they are regulated, covering such diverse topics as the health economics of wine consumption (both the positive health effects associated with moderate wine intake and the negative effects of alcohol abuse), the competition and profitability of wineries, the function of wine as an investment, and the quality of wine. He examines differences between the wine industries in the Old World and the New World, comparing small, family-owned wineries with larger conglomerates, and analyzes the regulation of wine in the United States versus the European Union. He concludes with a series of recommendations to ensure open and efficient wine markets while protecting public health.
Originally published in Italy as Economia del Vino, this English translation has been extensively revised. It includes additional material focusing on the English-speaking countries of the New World, particularly the regulatory environment of the United States and the lingering effects of Prohibition.
Hardcover$55.00 X ISBN: 9780262044677 320 pp. | 7 in x 9 in 54 figures
Wine Economics provides a meticulous, thorough, and comprehensive study of the economics of the world wine market along with a detailed explanation of how and why governments regulate the production, distribution, and consumption of wine. This book, which includes detailed appendixes and extensive references, is a must-read for anyone interested in gaining a better understanding of wine from an economic perspective and is an excellent reference source for wine researchers and professionals.
Emeritus Professor of Economics, Eastern Michigan University; author of American Wine Economics
As a longtime teetotaler, I read Wine Economics not for the wine, but just for the economics. Luckily there's a lot of that! Packed with interesting facts and detailed accounts of the worldwide wine supply chain, this should be your go-to guide and entrée to the fascinating world of oenomics.
Joshua D. Angrist
Professor of Economics, MIT