The purpose of this paper is to measure the impact of Robert Parker's oenological grades on Bordeaux wine prices. We study their impact on the so-called en primeur wine prices, i.e., the prices determined by the chateau owners when the wines are still extremely young. The Parker grades are...

Aside from the equilibrium that Hotelling (1931) displayed, his model of non-renewable resources also contains a continuum of bubble equilibria. In all the equilibria the price of the resource rises at the rate of interest. In a bubble equilibrium, however, the consumption of the resource peters...

Wine production in Germany has a tradition of more than 200 years in each of the 13 German quality wine-growing regions. Even today mall grape growers dominate the industry. As a result, most of the viticulturists are members of cooperatives. Our observation that grape growers still turn to wine...

Weather derivatives are a relatively new form of financial security that can provide firms with the ability to hedge against the impact of weather related risks to their activities. Participants in the energy industry have employed standardized weather contracts trading on organized exchanges...

This paper explores the effects of relative food prices on body weight and body fat over time in China. We study a cohort of 15,000 adults from over 200 communities in China, using the longitudinal China Health and Nutrition Survey (1991-2006). While we find that decreases in the price of...

Typical products, mainly local food and wine, are considered suitable features to characterise the tourist supply of a destination and in many cases they are a major attraction of a territory. These products contain a strong reference to the territory in which they are produced. They...

We study the impact of mandatory calorie posting on consumers’ purchase decisions, using detailed data from Starbucks. We find that average calories per transaction falls by 6%. The effect is almost entirely related to changes in consumers’ food choices—there is almost no change in...

This paper provides field evidence on the effects of diet on educational outcomes, exploiting a campaign lead in the UK in 2004, which introduced drastic changes in the meals, offered in the schools of one Borough – Greenwich - shifting from low-budget processed meals towards healthier...

This study examines the relationship between binge drinking and sexual behavior in nationally representative data on age 18–24 four-year college students. For having sex, overall or without condoms, large and significant positive associations are eliminated upon holding constant proxies for...