In seinem Beitrag zeigt Ferdinand Dudenhöffer, Universität Duisburg-Essen, dass die Premiumbranche den Autostandort Deutschland stabilisiert. Das weltweite Premiumgeschäft ist die Domäne der deutschen Autokonzerne. Neue Impulse, wie etwa die Kategorie kleiner Premiumfahrzeuge, haben dem...

In the last ten years, counterfeiting has drastically increased. It is generally argued that counterfeiting is economically harmful for both consumers and legal producers. The present paper aims at explaining in which circumstances counterfeiting is not that injurious from an economic...

This article deals with the relationships between luxury goods and innovations within the framework of a Socialist country. An original example is taken with the Habanos, the Cuban luxury cigars. In a first part, we analyse the main tendencies of the tobacco sector in general, and those of...

Luxury goods market is subject to quite different rules than traditional mass markets. This is a consequence of the specific nature of luxury goods, but most of all the different needs and behavior of consumers of these goods. Marketing strategies of luxury stand in complete contradiction with...

In this paper we seek to explain the causes and consequences of Northern penetration in Southern subsistence markets in order to reach the countless masses at the Bottom of the (Income) Pyramid. To this end we formulate a One-North-Many-Souths model, inspired by the Krugman (1979) North-South...

We examine the impact of aging on wine prices and the performance of wine as a long-term investment, using a unique historical database for five long-established Bordeaux wines that we construct from auction and dealer prices. We estimate the life-cycle price patterns with a regression model...

Luxury bequests impart systematic effects of age to an investor's optimal allocation: the expected percentage allocation to equities rises throughout retirement. When bequests are luxuries the marginal utility of bequests declines more slowly than the marginal utility of consumption. This is...

This article deals with the relationships between luxury goods and innovations within the framework of a Socialist country. An original example is taken with the Habanos, the Cuban luxury cigars. In a first part, we analyze the main tendencies of the tobacco industry in general, and those of...

This paper approaches international trade in luxury goods from demand side. It associates demand for luxury goods with within-country income disparities, via a social interactions component, the so-called Veblen effect (Veblen 1899). In the theoretical part, we propose a simple model of vertical...