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Patterns of Relative Cost of Champagne by the Same Producer: Analysis of the Cost of Entry-Level, Mid-Range, and Flagship Champagne

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  • Merton, Paul J.

Abstract

This paper examines the evolution of champagne prices in New York City from 1948 to 2013 by determining how many hours one must work, using after-tax income, to purchase a bottle of champagne. Each of the three brands analyzed—Bollinger, Louis Roederer, and Moët & Chandon—was divided into three tiers of nonvintage, vintage, and flagship champagne. The results indicated that all income groups worked fewer hours for entry-level nonvintage bottles of champagne, whereas the number of hours required to purchase flagship bottles generally increased. (JEL Classifications: E31, H24)

Suggested Citation

  • Merton, Paul J., 2017. "Patterns of Relative Cost of Champagne by the Same Producer: Analysis of the Cost of Entry-Level, Mid-Range, and Flagship Champagne," Journal of Wine Economics, Cambridge University Press, vol. 12(4), pages 426-435, November.
    • Handle: RePEc:cup:jwecon:v:12:y:2017:i:04:p:426-435_00
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    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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