Economic Analysis

This page provides links to third-party research on the economics of the wine maket, the pricing of wine and the development of the global wine trade. Full credit is given with each link to the authorship of the research, and readers should refer to the source websites for futher information. I would particularly like to acknowledge the work of the American Association of Wine Economists, whose website is

American Association of Wine Economists

Estimating the Value of California Wine Grapes: Olena Sambucci and Julian M. Alston

The paper, published in February 2017, shows how current mechanisms of calculating average statewide returns per ton understates the true total value of the crush by between 14 percent and 20 percent.

Analyzing Barrel Purchasing Decisions on Winery Costs: Eric Sims

The paper, published in February 2017, shows how a decision whether to puchase barrels early at a discount or later at a fuller price may have a significant effect on winery costs. 

Everything You Know About Wine Is Wrong:
Lee Hannah & Terra Alpaugh

The study, published in August 2016, is an analysis of how climatic, viticultural and market demand changes will fundamentally change the structure of the wine industry by the middle of this century.

Macroeconomic Determinants of Wine Prices:
Linda Jao

The paper, published in August 2016, is an analysis of how macroeconomic factors help to shape pricing structures in the wine market. 

Predicting the Quality and Prices of Bordeaux Wine: Orley Ashenfelter

The paper, published in April 2007, is a seminal study of the Bordeaux market. It explores how the price of mature wine may be predicted from data available when the grapes are picked.