Burton, Benjamin J; Jacobsen, Joyce P - In: Economic Inquiry 39 (2001) 3, pp. 337-50
Is wine an investment alternative to stocks and bonds? First, we review prior studies regarding the pecuniary rate of return to wine and other alternatives to financial assets. Next, we calculate the rate of return to holding red Bordeaux wine from 1986 to 1996 using a repeat-sale regression....