Using the philosophies of Louis Althusser and István Mészáros, this article seeks to interpret Marx's theory of the transformation of value into price based on a philosophical view that emphasizes both the base/superstructure dialectic (Althusser) and alienation under capitalism (Mészáros)....

Consumers often struggle to make their choice in the highly diversified wine market. With wine being an experience good, consumers must rely on extrinsic characteristics, e.g., information on the label. Thus, easily available quality signals like consumer ratings have become an increasingly...

By analyzing more than 1,400 expert tasting notes, we assess the so-called gender profile of Bordeaux wines. We identify 329 gender-related wine descriptors, with a good balance between masculine and feminine descriptors. Some wines and vintages are described as more feminine than others, but no...

This study examines price transmission dynamics in the Hungarian pork market from 2017 to 2023, focusing on the effects of price controls implemented to combat inflation. Inflation and price control policies have been central topics in economic research due to their significant impacts on market...

Almost every food retailer offers them - temporary loyalty programs (TLPs). TLPs aim to enhance customer loyalty by offering enticing, product-based incentives. However, an emerging concern arises regarding the sustainability impact of these programs, and consumers have started questioning the...

In recent years, a growing number of consumers have become aware that they can use their purchasing behaviour to promote environmental sustainability. This trend explains the prominent role of local food purchasing and the academic attention paid to such behaviour. However, academics studying...

This study examines the integrated impacts of cyberattacks, geopolitical, and financial market volatility on rare earth markets during the 2014-2024 period, using Time-Varying Parameter Vector Autoregression and wavelet analysis. By bridging critical gaps in the literature, this research...

Measuring the physical durability of garments is difficult and current assessment methods lack objectivity and reliability or don't reflect the complex nature of durability for different garment categories. This study presents a novel and reproducible methodology for testing and ranking the...

We empirically investigate the economic impact of natural disasters on food prices and production. We address the key issues of data aggregation and counterfactual biases. Our data set consists of regional information on prices and production for fourteen food products in Peru. This granularity...

This paper calculates the exchange rate pass through (ERPT) with time constant and time varying coefficients for Colombia between 2006 and 2023. It then estimates the ERPT during four specific depreciation events during the period of analysis: the 2008 financial crisis, the 2014-2016 fall in...

We empirically investigate the economic impact of natural disasters on food prices and production. We address the key issues of data aggregation and counterfactual biases. Our data set consists of regional information on prices and production for fourteen food products in Peru. This granularity...

This study examines the wine revenues of the Rákóczi family and the exchange rates of wines stored in their cellars destined for foreign markets, based on surviving sources from the period between 1660 and 1709. The Rákóczi family, of Transylvanian princely descent, was among the largest...

When and under what circumstances might people interpret a price increase as fair and acceptable is an important question in behavioral economics. We report the results of surveys we conducted in the US and Israel in 2020, a time when many prices increased following the spread of the COVID-19...

Quantifying the influence of uncertainty on gold prices is significant for improving related financial decision making. This study proposes a novel CNN-LSTM neural network that can extract potential features from sample data to effectively predict gold prices. Specifically, we demonstrate...

We identify supply and demand shocks to the real price of natural gas in the Euro Area and the United States. Demand shocks are identified using exogenous temperature variations, while supply shocks are identified through a high-frequency strategy based on an extensive collection of...

There is limited theoretical understanding of cost pass-through within markets where prices are dispersed. Under a general demand function, we analyse the effects of cost changes in a seminal model of price dispersion, where some consumers are captive to particular sellers while others are not...

Purpose The literature on the potential benefits of art investing has yet to consider the effects of categorizing world regional art markets (e.g. Latin American art) by artistic styles or movements (e.g. Latin American surrealism, Latin American conceptual art, etc.). We propose that such...

This paper uses data on 5-year gasoline price expectations from the US Michigan Survey of Consumers to investigate their role as a transmission channel for gasoline price shocks. Specifically, a Structural VAR model is estimated to carry out counterfactual analysis which shows that gasoline...

Since the growth of the art market into a capitalized global art industry, public and academic discourse on art auctions has been dominated by record prices. Despite the financial potential of art auctions as well as the public and academic interest in art, understanding of auction prices is...

If mainstream economics teaches us one lesson, it’s that when something becomes unaffordable, it’s because of a shortage. And that brings me to the US housing crisis. In America, housing is getting less affordable. So there must be a short supply, right? Not necessarily. You see, shortage is...

This paper develops a Bayesian VAR model to identify three structural shocks driving the European gas market: demand, supply and inventory shocks. We document how gas price fluctuations have a heterogeneous pass-through to euro area prices depending on the underlying shock driving them. The...

When it comes to rising house prices, nearly everyone has a theory about the cause. There’s ‘too much foreign money’. There are ‘too many immigrants’. There’s ‘too little construction’. And so on. What unites these explanations is that they appeal, in some way, to the idea that...

This paper applied the Cobb-Douglas production function to look into the impact of global crude oil prices on agricultural output in Ghana. Annual time-series secondary data spanning from 1980 to 2020 were utilized, sourced from the World Development Indicators and the US Energy Information...

Throughout history, governments and investors have relied on predictions of prices for a broad spectrum of commodities. Using time-series data covering 08/23/2013-04/15/2021, this study investigates the challenging problem of predicting scrap steel prices, which are issued daily for the...

Soybeans, a vital source of protein for animal feed and an essential industrial raw material, are the most traded agricultural commodity worldwide. Accurate price forecasting is crucial for maintaining a resilient global food supply chain and has significant implications for agricultural...

This study examined the vertical transmission of wheat price among the main value chain, looking at the pricing behaviour of certain role players in the wheat production/supply and the distribution of bread, which is a major staple food consumed in South Africa. A nonlinear autoregressive...

We report the results of surveys we conducted in the US and Israel in 2020, a time when many prices increased following the spread of the COVID-19 pandemic. To assess respondents' perceptions of price increases, we focus on goods whose prices have increased during the pandemic, including some...

The dependency on imported essential production inputs poses a threat of abrupt price hikes and shortages, potentially triggered by political events. The energy crisis resulting from the Russian war of aggression is an example. This paper investigates whether governments should bolster...