American Wine Economics

The U.S. wine industry is growing rapidly and wine consumption is an increasingly important part of American culture. <i>American Wine Economics</i> is intended for students of economics, wine professionals, and general readers who seek to gain a unified and systematic understanding of the economic organization of the wine trade. <br /><br />The wine industry possesses unique characteristics that make it interesting to study from an economic perspective. This volume delivers up-to-date information about complex attributes of wine; grape growing, wine production, and wine distribution activities; wine firms and consumers; grape and wine markets; and wine globalization. Thornton employs economic principles to explain how grape growers, wine producers, distributors, retailers, and consumers interact and influence the wine market. The volume includes a summary of findings and presents insights from the growing body of studies related to wine economics. <br /><br />Economic concepts, supplemented by numerous examples and anecdotes, are used to gain insight into wine firm behavior and the importance of contractual arrangements in the industry. Thornton also provides a detailed analysis of wine consumer behavior and what studies reveal about the factors that dictate wine-buying decisions.<br /><br />