In this paper we study household purchase behaviour of storable food products. An inventory model is developed in which the household chooses an optimal stock level of the product. Storage of the product is costly, there is a fixed cost per purchase occasion, and the market price is sometimes...

In this paper, the hedonic price technique is applied to Bordeaux wine. In the hedonic function, the authors include not only the 'objective' characteristics appearing on the label of the bottle but also the sensory characteristics of the wine. Their data come from an experimental study in which...

This article looks at the impact of Robert Parker's oenological grades on the so-called "en primeur" prices of young Bordeaux wines. The Parker grades are usually published in the spring of each year, before the wine prices are established. However, the wine grades for 2003 were published much...