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The Declining Significance of Wine Tastings

by Elliott R. Morss, Ph.D.,  November 2012 Introduction The Judgment of Paris in 1976, chronicled in George Taber’s book, was the first in a series of widely reported blind tastings. Below, I summarize the findings from those tastings (and my own – less widely reported). I also report on what research is telling us. I…

The Judgment of Princeton

At its Annual Conference in Princeton, the American Association of Wine Economists (www.wine-economics.org) organized a wine tasting called “The Judgment of Princeton.” It was modeled after the 1976 “ Judgment of Paris.” In 1976, British wine merchant Steve Spurrier organized two blind tastings with 9 French wine judges who were associated with the wine industry…

The US Wine Market – A Global Economist’s Perspective (Part 1)

by Elliott R. Morss, Ph.D. Introduction What is the state of the US wine market? Is it better for buyers or sellers? And what is popular? These questions are the focus of this article. I start with some aggregate numbers on the global wine industry. I then present the results of a survey done of…

The US Wine Market – What to Buy

September, 8, 2010, by Elliott Morss, www.morssglobalfinance.com Introduction The article starts by summarizing economic findings on people’s wine selections. It then examines the US wine market. It finishes with suggestions on selecting wines. How People Select Wines Considerable economic analysis has been done on how people choose wine[1]. Summarized in an earlier article, the primary…

A man of great appetites we will miss…

George E. Johnson (1940-2010) George Johnson, who spent many years as Professor of Economics at the University of Michigan, died in the spring of 2010.  A man of big appetites, and a fine cook, he was known mainly for his scholarly work in the economics of labor markets.  But he was also one of the…

Pennsylvania Liquor Monopoly, AAWE Working Paper No. 69

So maybe wine and liquor monopolies are not all bad! At least that is the conclusion that Katja Seim and Joel Waldfogel arrive at in their recent AAWE Working Paper No. 69 Economics Public Monopoly and Economic Efficiency: Evidence from the Pennsylvania Liquor Control Board’s Entry Decisions Katja Seim and Joel Waldfogel They study the…

The Taste of Wine – Does It Matter? A Global Economist’s Perspective (Part 2)

Research on how people select wine indicates that taste plays a very small role. But most of the research has been carried out on the selection of expensive French and US wines. A method for choosing wine if taste matters is proposed.

Welcome to the NEW Wine and Food Economics Blog

Welcome to the New Wine and Food Economics Blog site.

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