Kumar, Anoop S - In: Wine Economics and Policy 10 (2021) 2, pp. 99-109
We test the nature of weak form informational efficiency present in the wine market using daily return of LIV-EX 50 … market. Based on the mixed evidence, we test the possibility of adaptive nature of the wine market. We employ the newly … proposed Adaptive Index (AI) to quantify the degree of information inefficiency in the wine market at any instance. Our results …