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This paper presents an empirical model that estimates the Prosecco life cycle. We use OLS and 3SLS to estimate the life cycle of Prosecco (1) worldwide, (2) as a system of equations in selected countries and (3) as a system of equations in comparison with Cava and Champagne. Our results reveal that Prosecco is approaching maturity worldwide, different from Cava and Champagne, which have already achieved that phase. The Prosecco life cycle is in the growing phase in Germany, China and Japan, in the maturity phase in France, the United Kingdom and the U.S. and in the declining phase in Russia.

The study performs an economic analysis of the rules that govern the organization of production within Prosecco cooperative wineries in the Treviso area, in order to assess the economic impact on the wineries performance and the ability of the institution to minimize transaction costs. We first present an economic discussion of qualitative and quantitative information gathered for the 16 cooperative wineries in the Treviso area. Then we present a theoretical framework for the economics of transaction costs of the cooperative wineries. Despite the “fame” of the cooperative winery of an inefficient, assistance-based institution, it emerges the profile of a complex structure, which seeks to incorporate the values of social and cultural cohesion and competitiveness in the markets, within the mission of a company. There is a strong link between regulation of quality standards and impacts on the winery economic performance. In the case of the winery, achieving mutualism is paradoxically favored by the maximization of profits and the ability to do business., Italian Review of Agricultural Economics, Vol 71 No 1 (2016): Vol 71, No 1 (Suppl.) (2016)

This paper addresses the dynamics of world wine consumption over the past 50 years in 26 countries, verifying whether or not there is a macro-tendency towards a common consumption style, despite differences in taxation, economic policies and distribution systems among countries. From an empirical point of view, the σ and β convergence hypotheses were formally tested. Model results confirm the existence of both types of convergences. Per capita consumption of wine first experienced a reduction in differences between countries and then converged toward a central value. "Traditional" countries, with historically high levels of consumption, showed a decrease in wine consumption, while emerging countries with historically lower consumption levels showed an increase. These findings not only provide further support to the theory of international convergence of wine consumption on a volume basis, as already observed by other researchers in the European market, but they also offer support for the theory in major world markets. Furthermore, convergence appears to be happening not only at a quantitative level but at qualitative level as well, and this phenomenon may very well reflect the changing tastes of worldwide consumers towards a generalized structure of wine consumption. Este paper compara las dinámicas del consumo internacional de vino de los últimos 50 años en 26 países, con el objetivo de averiguar si existe una tendencia global hacia un estilo de consumo común, al margen de las diferencias impositivas y arancelarias, políticas económicas y sistemas de distribución de cada país. Los resultados del modelo confirman las hipótesis de convergencia de tipo σ y de tipo β: se observa una disminución en la diferencia d-el consumo per capita de vino entre países y posteriormente un aumento hacia un valor central, en términos de litros. Los países "tradicionales", con niveles de consumo históricamente altos, han experimentado una disminución del mismo, mientras que países emergentes con menor tradición de consumo de vinos han registrado un crecimiento. Estos resultados no solo apoyan la teoría del consumo internacional del vino desde un punto de vista cuantitativo, ya verificada en mercados europeos, sino que extiende su alcance hacia otros mercados. Se observa también una convergencia cualitativa, fenómeno que podría reflejar un cambio mundial en los gustos de los consumidores hacia un modelo con tendencias a la uniformidad. Fil: Dal Bianco, Andrea. Padova, Italia. Universidad de Padua. Fil: Boatto, Vasco. Padova, Italia. Universidad de Padua. Fil: Caracciolo, Francesco. Portici (Italia). Universidad de Naples Federico II

In this study, using scanner data, collected from super-market transactions in 2009, we estimate an eight equations simultaneous model with a 3SLS routine, with the objective to empirically analyze the Grappa market structure. Results show that the supply side of the Grappa market is characterized by an oligopolistic structure, where the dominant firms compete as oligopolists à la Cournot with homogeneous products. Firms’ competition is mostly played on the quantity grounds and mostly disregards product differentiation strategies. The dominant firms produce and supply a “cheap”, homogenous product. Interpretation of the results focus on cultural consumption of this very “ancient” liquor and corroborate previous studies, where hedonic analysis of the demand side has shown consumers’ very low/null implicit prices for the product differentiated characteristics.