Wine and the wine trade are steeped in culture and history; few products have consistently enjoyed both cultural importance and such wide distribution over time--even seen by some as "an elixir of life". While wine has been produced and consumed for centuries, what is distinctive about the...

Wine and the wine trade are steeped in culture and history; few products have consistently enjoyed both cultural importance and such wide distribution over time--even seen by some as "an elixir of life". While wine has been produced and consumed for centuries, what is distinctive about the...

As brokers between consignors and buyers, auction houses routinely charge successful bidders a broker's commission—a percent of their successful bids. This study considers the extent to which differences in brokers' commissions are reflected in differences in winning bids in fine wine...