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The Value of Terroir : Hedonic Estimation of Vineyard Sale Prices
Cross, Robin M - 2011
We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect,...
Persistent link: https://www.econbiz.de/10013130554
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French Wine and the U.S. Boycott of 2003 : Does Politics Really Affect Commerce?
Ashenfelter, Orley - 2007
In early 2003, France actively tried to thwart the plans of the Bush administration to build international support for a war to depose Iraqi ruler Saddam Hussein. In response, calls in the United States for a boycott of French products, wine in particular, rebounded through all forms of media....
Persistent link: https://www.econbiz.de/10012776517
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Long Run Health Impacts of Income Shocks : Wine and Phylloxera in 19th Century France
Banerjee, Abhijit V. - 2010
This paper provides estimates of the long-term effects on height and health of a large income shock experienced in early childhood. Phylloxera, an insect that attacks the roots of grape vines, destroyed 40% of French vineyards between 1863 and 1890, causing major income losses among wine growing...
Persistent link: https://www.econbiz.de/10012760385
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Measuring the Economic Effect of Global Warming on Viticulture Using Auction, Retail, and Wholesale Prices
Ashenfelter, Orley - 2010
In this paper we measure the effect of year to year changes in the weather on wine prices and winery revenue in the Mosel Valley in Germany in order to determine the effect that climate change is likely to have on the income of wine growers. A novel aspect of our analysis is that we compare the...
Persistent link: https://www.econbiz.de/10013142934
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Sticking with What (Barely) Worked
Lefgren, Lars - 2011
formalize this cognitive bias in a simple model of distorted Bayesian updating. We then examine strategy changes made by … professional football coaches. We find they are more likely to revise their strategy after a loss than a win -- even for narrow … expected, and the offensive strategy is revised even when failure is attributable to the defense. These results are consistent …
Persistent link: https://www.econbiz.de/10013119785
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Conflict and Deterrence Under Strategic Risk
Chassang, Sylvain - 2010
We examine the mechanics of deterrence and intervention when fear is a motive for conflict. We contrast results obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk, where players have different assessments of their...
Persistent link: https://www.econbiz.de/10012759352
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Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
Chien, YiLi - 2014
This paper extends the methodology developed in Chien, Cole and Lustig (2011 & 2012) (hereafter CCL2011 and CCL2012, respectively) to analyze and compute the equilibria of economies with heterogeneous agents who have different asset trading technologies and are subject to both aggregate and...
Persistent link: https://www.econbiz.de/10013050169
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Capital Share Risk in U.S. Asset Pricing
Lettau, Martin - 2014
A single macroeconomic factor based on growth in the capital share of aggregate income exhibits significant explanatory power for expected returns across a range of equity characteristic portfolios and non-equity asset classes, with risk price estimates that are of the same sign and similar in...
Persistent link: https://www.econbiz.de/10013040236
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Effective Monetary Policy Strategies in New Keynesian Models : A Re-Examination
Chung, Hess T. - 2014
strategy are common across the two models: In particular, highly inertial interest rate rules that respond to nominal income or …
Persistent link: https://www.econbiz.de/10013044989
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Understanding Defensive Equity
Novy-Marx, Robert - 2014
the abnormal performance of defensive equity (i.e., low volatility and/or low beta strategies). While defensive strategy …
Persistent link: https://www.econbiz.de/10013045289