Fine wine has become an attractive alternative asset class in recent decades. In our study, we take the market … microstructural perspective and verify how innovations in trading infrastructure affect the fine wine market. More specifically, we … automated, cost-effective wine exchange in improving pricing efficiency and reducing market risk. This may constitute useful …

In 1986, California passed legislation prohibiting the direct shipment of wine to its residents from another state … intent was to break down other states' barriers to the direct shipment of California wine; prior to 1986, direct shipment was …