{"id":60631,"date":"2020-12-29T02:00:16","date_gmt":"2020-12-29T07:00:16","guid":{"rendered":"https:\/\/quotulatiousness.ca\/blog\/?p=60631"},"modified":"2020-12-28T16:54:27","modified_gmt":"2020-12-28T21:54:27","slug":"the-economics-of-wine-orley-ashenfelter-princeton","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2020\/12\/29\/the-economics-of-wine-orley-ashenfelter-princeton\/","title":{"rendered":"The Economics of Wine (Orley Ashenfelter, Princeton)"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"854\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/8WMRj9mTQtI\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Marginal Revolution University<\/strong><br \/>\nPublished 30 Sep 2020<\/p>\n<p>What does an economist know about wine? Given that many wines need years to mature, how can one predict which ones will be great or not? <\/p>\n<p>Princeton&#8217;s Orley Ashenfelter explains how he used economic principles and regression analysis to predict wine quality (and score great deals!). His research helped spawn an entire field dedicated to the economics of wine.<\/p>\n<p>This video is based on the following paper:<\/p>\n<p><em>Predicting the Quality and Prices of Bordeaux Wines<\/em> By Orley Ashenfelter<br \/>\n<a href=\"https:\/\/www.youtube.com\/redirect?redir_token=QUFFLUhqa2tSQVByb2YtRGhFUmxFT0MxVS1jbC1xb2c0d3xBQ3Jtc0trYUp1ZkRYc2Y2RTEyWGUyNzNsVkpPZjF2MjFPYTMzRXoxQjFjSkpiYWhvUml0THVIMGY5cjZxMUlzOHBGSkUyZUlfTE5YTkNrOExQdG1FQXJFUkFwWUdtR1Nsa3lWYXVjMDhTMFMya1IwV0xIaHA2RQ%3D%3D&#038;v=8WMRj9mTQtI&#038;q=https%3A%2F%2Fwww.researchgate.net%2Fpublication%2F4891174_Predicting_the_Quality_and_Prices_of_Bordeaux_Wine&#038;event=video_description\" rel=\"noopener noreferrer\" target=\"_blank\">https:\/\/www.researchgate.net\/publicat&#8230;<\/a><\/p>\n<p>More of Orley Ashenfelter&#8217;s work: <a href=\"https:\/\/www.youtube.com\/redirect?redir_token=QUFFLUhqbWc3N2ZoV2dsYUg1U01feF9BdHpyM2J0RUt1QXxBQ3Jtc0trY0VPcElCOHZZOHJXNk5OUnNUa3loRFN2LVhwbjRCZHQ1bVctcThqZm1CcjkzbGdtVF8xeDllckloSXdGUHNsb3VyYjVMNUZtQzNpbHI1dDRIcy14dlowdFZHVXE2ZXlhVjE5RnBTLXMtU1JwMTlVTQ%3D%3D&#038;v=8WMRj9mTQtI&#038;q=https%3A%2F%2Firs.princeton.edu%2Fpeople%2Forley-c-ashenfelter&#038;event=video_description\" rel=\"noopener noreferrer\" target=\"_blank\">https:\/\/irs.princeton.edu\/people\/orle&#8230;<\/a> <\/p>\n<p>Orley Ashenfelter\u2019s vineyard: <a href=\"https:\/\/cedarrosevineyards.com\/\" rel=\"noopener noreferrer\" target=\"_blank\">https:\/\/cedarrosevineyards.com\/<\/a><\/p>\n<p>Want to see more Economists in the Wild? Check out our series: <a href=\"https:\/\/mru.io\/economists-wild-67905\" rel=\"noopener noreferrer\" target=\"_blank\">https:\/\/mru.io\/economists-wild-67905<\/a> <\/p><\/blockquote>\n<p><a href=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-29-The-Economics-of-Wine-Orley-Ashenfelter-Princeton.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-29-The-Economics-of-Wine-Orley-Ashenfelter-Princeton-480x270.png\" alt=\"\" width=\"480\" height=\"270\" class=\"aligncenter size-medium wp-image-62319\" srcset=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-29-The-Economics-of-Wine-Orley-Ashenfelter-Princeton-480x270.png 480w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-29-The-Economics-of-Wine-Orley-Ashenfelter-Princeton-150x84.png 150w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-29-The-Economics-of-Wine-Orley-Ashenfelter-Princeton-768x432.png 768w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2020\/12\/Screenshot_2020-12-29-The-Economics-of-Wine-Orley-Ashenfelter-Princeton.png 853w\" sizes=\"auto, (max-width: 480px) 100vw, 480px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marginal Revolution University Published 30 Sep 2020 What does an economist know about wine? Given that many wines need years to mature, how can one predict which ones will be great or not? Princeton&#8217;s Orley Ashenfelter explains how he used economic principles and regression analysis to predict wine quality (and score great deals!). His research [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[831,25,1117,13,131],"tags":[1026,290,330],"class_list":["post-60631","post","type-post","status-publish","format-standard","hentry","category-business","category-economics","category-france","category-usa","category-wine","tag-microeconomics","tag-statistics","tag-weather"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-fLV","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/60631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=60631"}],"version-history":[{"count":3,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/60631\/revisions"}],"predecessor-version":[{"id":62320,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/60631\/revisions\/62320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=60631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=60631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=60631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}