Analyzing the risks of an illiquid and global asset: The case of fine wine

Masset, Philippe; Weisskopf, Jean‐Philippe; Cardebat, Jean‐Marie; Faye, Benoît; Fur, Éric Le

doi:10.1016/j.qref.2021.06.023

Cited by 10 publications

(7 citation statements)

References 70 publications

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“…These include the gold price and the currency risk factors RX and HML proposed by Lustig, Roussanov, and Verdelhan (2011). Prior literature has shown that all three instruments strongly influence wine prices on the secondary market (Masset et al, 2021;Bouri 2014). We further find that these three variables explain 78% of Liv-ex returns over our sample period.…”

Section: Robustness Testssupporting

confidence: 60%

At What Price Should Bordeaux Wines Be Released?

Masset

Weisskopf²

2020

SSRN Journal

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Section: Robustness Testssupporting

confidence: 60%

At What Price Should Bordeaux Wines Be Released?

Masset

Weisskopf²

2020

SSRN Journal

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“…(2011). Prior literature has shown that all three instruments strongly influence wine prices on the secondary market (Bouri, 2014; Masset et al., 2021). We further find that these three variables explain 78% of Liv‐ex returns over our sample period.…”

Section: Empirical Analysismentioning

confidence: 97%

At what price should Bordeaux wines be released?

Masset

Weisskopf

2021

Economic Inquiry

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This paper models optimal release prices of an experience good recurrently issued on markets. Using a sample of Bordeaux wines, we find that using a minimal number of intrinsic and extrinsic attributes is sufficient to explain a large proportion of release prices. We further observe a significant relationship between primary market prices and secondary market prices and general economic conditions. Release prices can deviate from secondary market prices in the short run but remain aligned over the long run. Finally, an out‐of‐sample analysis indicates that short‐run mispricing directly affects the purchase behavior of customers.

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“…In the long term, all markets affect the wine market (Ben Ameur & le Fur, 2020). Finally, fine wines tend to react with a delay of one to 3 months to changes in market conditions (Masset et al, 2021).…”

Section: Co‐occurrence Analysis Of Abstract and Clustersmentioning

confidence: 99%

Wine prices in economics: A bibliometric analysis

Le Fur,

Thelisson,

Guyottot

2023

Strategic Change

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This article presents a literature review and a bibliometric analysis of academic research on wine prices in economics. The study comprises a review of 180 articles published in journals between 1992 and 2022. Bibliometric and science mapping methods apply indicators identifying the most prominent journals, authors, countries, institutions, topics, most published and cited articles, co‐authorship, bibliographic coupling, cited references, and keywords. This approach highlights the importance of four clusters in the literature: determinants of the wine prices, demand and consumption of wine, fine wine as an alternative investment, and quality and brand reputation of Bordeaux wines. This study shows many areas for further research within and outside these clusters.

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Analyzing the risks of an illiquid and global asset: The case of fine wine

Cited by 10 publications

References 70 publications

At What Price Should Bordeaux Wines Be Released?

At What Price Should Bordeaux Wines Be Released?

At what price should Bordeaux wines be released?

Wine prices in economics: A bibliometric analysis

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