Wine is a highly differentiated good, with prices ranging from a few Euros to hundreds and even thousands of Euros per bottle. Much of this differentiation is associated with place of production. Premium prices may reflect natural scarcity of the particular productive resources (i.e., land with its soil, terrain, climate and so on) that comprise “terroir” or artificial, contrived scarcity associated with regulations on production and barriers to entry by government, or both. Europe’s system of PDOs (protected designations of origin) is a prime example
(Some of the) Economics of PDOs as Collective Brands for Wine Alston, Julian; Gaeta, Davide
Alston, Julian
;Gaeta, Davide
2025-01-01
Abstract
Wine is a highly differentiated good, with prices ranging from a few Euros to hundreds and even thousands of Euros per bottle. Much of this differentiation is associated with place of production. Premium prices may reflect natural scarcity of the particular productive resources (i.e., land with its soil, terrain, climate and so on) that comprise “terroir” or artificial, contrived scarcity associated with regulations on production and barriers to entry by government, or both. Europe’s system of PDOs (protected designations of origin) is a prime example
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