We document countercyclical prices in the sparkling wine market during the holiday season. While quantity peaks, increasing more than 100%, prices uniformly decrease, by 16% in average. We investigate the role played by changes in aggregate elasticity when demand spikes. Using Nielsen retail...

Framing the market : wine in Britain, 1800-1914 -- Champagne, 1800-1860 -- "A smart agent and lavish expenditure"? : the distribution and marketing of champagne, 1860-76 -- "Taste changes very fast" : consumers and consumption, 1860-75 -- Votaries of fashion? : changing consumer tastes,...