Comparisons between the return to wine and standard financial assets are complicated in that the return to wine must be estimated from infrequent sales of heterogeneous wine brands. Wine returns can be estimated using several different approaches, and here the performance of the hedonic...

The existing literature on the return to wine is mixed. Some studies have found wine to be an unattractive investment option and others have found wine to be an investment class that provides excess risk adjusted returns. However, provided the return to wine does not have a strong positive...

This paper presents an improved hedonic price estimate for wine sold in the Australian retail market. In the model developed, concepts from viticulture and wine tasting theory have been drawn upon to ensure both estimation technique, and variable selection are theoretically sound. Approach the...

The demand for alcohol literature is vast and much conflicting information about the nature of the demand for alcoholic beverages has been published. This paper presents a survey of the literature, and then uses the technique of meta-regression analysis to establish insights into the nature of...

This thesis consists of six chapters, and the main research contributions are contained in chapters two through five inclusive. The topics addressed in each chapter are distinct, but related, and the specific contributions to knowledge made by the different chapters are related to: (i)...