Journal of Political Economy · 1979 · 103 citations · 0 references
Social SciencesBusiness EconomicsEconomicsFinancial EconomicsVineyard ManagementWine ChemistryAsset Return ModelingInternal Rate Of ReturnWine ManagementExpected Return AnalysisExpected Return ModelsWine Investment ManagementWine InvestmentsWine PricingWine Retail Management
This paper contains an empirical investigation of the rate of return to storing wine. The view commonly expressed in the wine literature that this return is very large is found to be inconsistent with the recent history of wine prices. In fact, the data suggest that the expected return to storing wine is no larger than the return to riskless assets.