Description
Book SynopsisWine and the wine trade are steeped in culture and history; few products have consistently enjoyed both cultural importance and such wide distribution over time even seen by some as 'an elixir of life'. While wine has been produced and consumed for centuries, what is distinctive about the economics of wine? Professor Marks's book is an accessible exploration of the economics of wine, using both basic principles and specialized topics and emphasizing microeconomics and related research.
Drawing upon economic themes such as International Trade and Public Choice, Wine and Economics also relates economic reasoning to management issues in wine markets. The discussion ranges from economic fundamentals and wine and government, to the challenge of knowing what is in the bottle and the importance of wine as a cultural good.
This novel and comprehensive introduction to the subject is an invaluable resource for students, scholars and anyone interested in wine and the wine industry.
Trade Review’Denton Marks's book fills a void in both the economic and the wine-related literature. It offers the economic student insights into the wine world and the wine professionals into economic thinking. Certainly, this is the first 'wine economics' textbook.’ -- Karl Storchmann, New York University, US and Managing Editor, Journal of Wine Economics
’What is welcome with Denton's book is its exploration beyond the narrow focus of wine pricing. The outline of how wine fits into key economic processes is illuminating, and the understanding of the political economy of wine is especially helpful. Crucially, the examination of how wine functions as a cultural good is a real expansion of our understanding of its social and economic context, underlining that value is not merely a financial construct but includes intangible, symbolic meaning as well.’ -- Steve Charters, School of Wine and Spirits Business, Burgundy School of Business, France
’Most professions show a professional interest in wine, and economics is no exception: it can help us understand how wine markets work. But since economics is considered by many as a rather 'dry' subject, wine can boost student enthusiasm for economics. This book exploits those two interests by helping non-economists understand wine producer and consumer behaviour and helping college students understand economics.’ -- Kym Anderson, University of Adelaide and Australian National University, Australia
Table of ContentsContents: 1. Introduction 2. The Relevance of Economics 3. Comparative Advantage and Why We Transact 4. Some Basic Tools of Economics: Consumer Behavior and Demand 5. Some Basic Tools of Economics: Firm Behavior, Supply And Equilibrium in a Market 6. Wine and Government 7. A Closer Look at the Transaction: How Do We Know What Is In the Bottle? 8. Wine as a Cultural Good 9. Conclusion Endnotes References Index
