AAWE, Economics Dept, New York University, 19 W 4th St, 6Fl., New York NY 10012aawe@wine-economics.org

AAWE Working Paper No. 126

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AAWE Working Paper No. 126

Sustainability of Top Ranked Restaurants
in France: Methodological Note and Analysis of Gault-Millau Data from 1974 to 2010

J. François Outreville

Abstract

Do well-known restaurants stand the test of time? The objective of this short paper is to review the list of the top ranked restaurants from 1974 to 2010 and examine the sustainability of the grades of these restaurants over time. A new methodology to calculate migration and default rates is presented for selected years over the period under study. It is shown that these rates are relatively stable and low compared to bankruptcy rates. After 24 years, the default rate of top ranked restaurant is only about 32%.

This article was written by Karl Storchmann

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