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Nonlinear Hedonic Pricing: a Confirmatory Study of South African Wines
International Journal of Wine Research Dovepress open access to scientific and medical research Open Access Full Text Article ORIGINAL RESEARCH Nonlinear hedonic pricing: a confirmatory study of South African wines David A Priilaid1 Abstract: With a sample of South African red and white wines, this paper investigates the Paul van Rensburg2 relationship between price, value, and value for money. The analysis is derived from a suite of regression models using some 1358 wines drawn from the 2007 period, which, along with red 1School of Management Studies, 2Department of Finance and Tax, and white blends, includes eight cultivars. Using the five-star rating, each wine was rated both University of Cape Town, sighted and blind by respected South African publications. These two ratings were deployed in Republic of South Africa a stripped-down customer-facing hedonic price analysis that confirms (1) the unequal pricing of consecutive increments in star-styled wine quality assessments and (2) that the relationship between value and price can be better estimated by treating successive wine quality increments as dichotomous “dummy” variables. Through the deployment of nonlinear hedonic pricing, For personal use only. fertile areas for bargain hunting can thus be found at the top end of the price continuum as much as at the bottom, thereby assisting retailers and consumers in better identifying wines that offer value for money. Keywords: price, value, wine Introduction Within economics, “hedonics” is defined as the pleasure, utility, or efficacy derived through the consumption of a particular good or service; the hedonic model thereby proposes a market of assorted products with a range of associated price, quality, and characteristic differences and a diverse population of consumers, each with a varying propensity to pay for certain attribute assemblages. -
First Virtual 2020 ACR Conference Program October 1-4, 2020
First Virtual 2020 ACR Conference Program October 1-4, 2020 Can Brands be Sarcastic Conference Registration - https://www.acrwebsite.org/go/ACR2020Register Conference Agenda Access - Whova 2020 ACR Conference Access Info.pdf Wednesday, September 30, 2020 Advancing Diversity, Equity, 10:00 am - 12:00 pm (EDT) and Inclusion in Consumer Research Thursday, October 1, 2020 Early Career Workshop 9:00 am - 10:00 am (EDT) 10:00 am - 11:00 am (EDT) 8:00 pm - 9:00 pm (EDT) 9:00 pm - 10:00 pm (EDT) JACR Special Issue Workshop- by invitation only 10:30 am - 1:30 pm (EDT) This was set up by JACR so it only appears on the website for information, there’s not a live link to it as it is by Invitation Only. ACR-Sheth Doctoral Symposium 12:00 pm - 3:00 pm (EDT) Virtual Opening Reception 7:00 pm New York (EDT) 7:00 pm Paris (Paris Time) 7:00 pm (Sydney time for Asia/Australia) Friday, October 2, 2020 The Keith Hunt Newcomers’ Meet and Greet 9:30 am - 10:00 am (EDT) Eileen Fischer - President’s Address 10:00 am - 10:30 am (EDT) Business Meeting/Awards Ceremony 10:30 am - 11:30 am (EDT) Knowledge Forums 12:00 pm - 1:15 pm (EDT) Virtual Happy Hour 7:00 pm New York (EDT) 7:00 pm Paris (Paris Time) 7:00 pm (Sydney time for Asia/Australia) Saturday, October 3, 2020 Knowledge Forums 9:30 am - 10:45 am (EDT) 11:00 am - 12:15 pm (EDT) Virtual Closing Night Reception 7:00 pm New York (EDT)) 7:00 pm Paris (Paris Time) 7:00 pm (Sydney time for Asia/Australia) 1 First Virtual 2020 ACR Conference Program October 1-4, 2020 Friday & Saturday, October 2 & 3, 2020 The following -
Council Meeting Agenda - 25 November 2020 - Agenda
Council Meeting Agenda - 25 November 2020 - Agenda Council Meeting Agenda - 25 November 2020 Meeting will be held in the Council Chamber, Level 2, Philip Laing House 144 Rattray Street, Dunedin Members: Cr Andrew Noone, Chairperson Cr Carmen Hope Cr Michael Laws, Deputy Chairperson Cr Gary Kelliher Cr Hilary Calvert Cr Kevin Malcolm Cr Michael Deaker Cr Gretchen Robertson Cr Alexa Forbes Cr Bryan Scott Hon Cr Marian Hobbs Cr Kate Wilson Senior Officer: Sarah Gardner, Chief Executive Meeting Support: Liz Spector, Committee Secretary 25 November 2020 01:00 PM Agenda Topic Page 1. APOLOGIES Cr Deaker and Cr Hobbs have submitted apologies. 2. CONFIRMATION OF AGENDA Note: Any additions must be approved by resolution with an explanation as to why they cannot be delayed until a future meeting. 3. CONFLICT OF INTEREST Members are reminded of the need to stand aside from decision-making when a conflict arises between their role as an elected representative and any private or other external interest they might have. 4. PUBLIC FORUM Members of the public may request to speak to the Council. 4.1 Mr Bryce McKenzie has requested to speak to the Council about the proposed Freshwater Regulations. 5. CONFIRMATION OF MINUTES 4 The Council will consider minutes of previous Council Meetings as a true and accurate record, with or without changes. 5.1 Minutes of the 28 October 2020 Council Meeting 4 6. ACTIONS (Status of Council Resolutions) 12 The Council will review outstanding resolutions. 7. MATTERS FOR COUNCIL CONSIDERATION 14 1 Council Meeting Agenda - 25 November 2020 - Agenda 7.1 CURRENT RESPONSIBILITIES IN RELATION TO DRINKING WATER 14 This paper is provided to inform the Council on Otago Regional Council’s (ORC) current responsibilities in relation to drinking water. -
Sonoma County Champagne Och Andra Fyrverkerier
Sonoma County Champagne och andra fyrverkerier Port – världsklass till reapris Taylor’s Nr 8 • 2011 Organ för Munskänkarna Årgång 54 • 2011 • 8 Vinprovning Ansvarig utgivare Ylva Sundkvist – för både samvaro och tävling Redaktör VINTERN NÄRMAR SIG i rask takt och jag är nu inne på mitt femte år i styrelsen. Otroligt vad tiden går fort Munskänken/VinJournalen Ulf Jansson, Oxenstiernsgatan 23, när man håller på med nåt som är kul och spännande. Via Munskänkarna har jag haft förmånen att få 115 27 Stockholm träffa många trevliga och engagerade människor. Vinprovning är en hobby som både stimulerar intellektet Tel 08-667 21 42 och skapar trevlig stämning. Det kan också vara roligt att tävla. Att gissa druva hemma i soffan eller att se vem som prickar flest viner i kompisgänget är ju sånt som vi alla tycker är roligt ibland. Nu senast fick jag Annonser chansen att träffa likasinnade från många länder vid vinprovnings-EM i Priorat. Munskänkarna i Sverige Urban Hedborg är en världsunik förening där vi lyckats samla många medlemmar på nationell basis och man ser på oss Tel 08-732 48 50 med stor respekt. Nästa år får vi chansen att visa framfötterna på hemmaplan, både som tävlande och som e-post: [email protected] medarrangörer. Våra vänner i Finland har då också aviserat att ställa upp som ny nation. Att tävla i vinprov- Produktion och ning är alltid mycket spännande och jag tror att vi kan locka både publik och medier till detta arrangemang. Grafisk form Exaktamedia, Malmö NÅGOT SOM DOCK ÄR oroande är att flera av våra sektioner har börjat få problem med lokala handläggare monika.fogelberg@ kring serveringstillstånd. -
Exploring the Typicality, Sensory Space, and Chemical Composition of Swedish Solaris Wines
foods Article Exploring the Typicality, Sensory Space, and Chemical Composition of Swedish Solaris Wines Gonzalo Garrido-Bañuelos 1,* , Jordi Ballester 2 , Astrid Buica 3 and Mihaela Mihnea 4,* 1 Agriculture and Food, Product Design—RISE—Research Institutes of Sweden, 41276 Göteborg, Sweden 2 Centre des Sciences du Goût et de l’Alimentation, AgroSup Dijon, CNRS, INRA, Univ. Bourgogne Franche-Comté, F-21000 Dijon, France; [email protected] 3 South African Grape and Wine Research Institute, Department of Viticulture and Oenology, Stellenbosch University, Stellenbosch 7600, South Africa; [email protected] 4 Material and exterior design, Perception—RISE—Research Institutes of Sweden, 41276 Göteborg, Sweden * Correspondence: [email protected] (G.G.-B.); [email protected] (M.M.) Received: 21 July 2020; Accepted: 8 August 2020; Published: 12 August 2020 Abstract: The Swedish wine industry has exponentially grown in the last decade. However, Swedish wines remain largely unknown internationally. In this study, the typicality and sensory space of a set of twelve wines, including five Swedish Solaris wines, was evaluated blind by Swedish wine experts. The aim of the work was to evaluate whether the Swedish wine experts have a common concept of what a typical Solaris wines should smell and taste like or not and, also, to bring out more information about the sensory space and chemical composition of Solaris wines. The results showed a lack of agreement among the wine experts regarding the typicality of Solaris wines. This, together with the results from the sensory evaluation, could suggest the possibility of different wine styles for Solaris wines. -
Årsrapport 2014
Arcus-Gruppen AS | Annual Report 2014 DIRECTORS’ REPORT ArcusGruppen is a leading wine and spirits company in the Nordic region. Its head office is located at Gjelleråsen in Nittedal Municipality. The Group is the global leader in the aquavit market, the market leader in spirits in Norway and Denmark and the market leader and market runner-up in wine in Norway and Sweden, respectively. ArcusGruppen continues to strengthen its position in the Nordic market with revenue growth of 4.7%. External revenue for Wine increased by 8.5% in 2014 and decreased by 1.7% for Spirits. The strong revenue growth for Wine is primarily due to new, attractive agencies and new products. The weakening of SEK and NOK during the year, however, resulted in increased purchasing costs in 2014, which have not been fully offset by changes to the sales price. This has put pressure on profitability. A long-term repositioning of important brands in Spirits contributed to slightly reduced revenue and profitability in the Norwegian market in 2014. The Danish brands are developing as expected following their acquisition in 2013. The production facilities at Gjelleråsen reported positive productivity growth in 2014. FINANCIAL GROWTH Earnings in detail Consolidated operating revenue was MNOK 2,150 in 2014, which represents an increase of MNOK 97 (4.7%) compared to 2013. This increase is mainly attributable to growth in the Wine business area, which reported an increase in external operating revenue of MNOK 99. The Spirits business area reported a decline in its operating revenue of MNOK 14. Profit before tax, financial items, depreciation and amortisation (EBITDA) was MNOK 311, which is MNOK 21 (6.4%) lower than last year. -
Radio Guest List
iWineRadio℗ Wine-Centric Connection since 1999 Wine, Food, Travel, Business Talk Hosted and Produced by Lynn Krielow Chamberlain, oral historian iWineRadio is the first internet radio broadcast dedicated to wine iWineRadio—Guest Links Listen to iWineRadio on iTunes Internet Radio News/Talk FaceBook @iWineRadio on Twitter iWineRadio on TuneIn Contact Via Email View My Profile on LinkedIn Guest List Updated February 20, 2017 © 1999 - 2017 lynn krielow chamberlain Amy Reiley, Master of Gastronomy, Author, Fork Me, Spoon Me & Romancing the Stove, on the Aphrodisiac Food & Wine Pairing Class at Dutton-Goldfield Winery, Sebastopol. iWineRadio 1088 Nancy Light, Wine Institute, September is California Wine Month & 2015 Market Study. iWineRadio1087 David Bova, General Manager and Vice President, Millbrook Vineyards & Winery, Hudson River Region, New York. iWineRadio1086 Jeff Mangahas, Winemaker, Williams Selyem, Healdsburg. iWineRadio1085a John Terlato, “Exploring Burgundy” for Clever Root Summer 2016. iWineRadio1085b John Dyson, Proprietor: Williams Selyem Winery, Millbrook Vineyards and Winery, and Villa Pillo. iWineRadio1084 Ernst Loosen, Celebrated Riesling Producer from the Mosel Valley and Pfalz with Dr. Loosen Estate, Dr. L. Family of Rieslings, and Villa Wolf. iWineRadio1083 Goldeneye Winery's Inaugural Anderson Valley 2012 Brut Rose Sparkling Wine, Michael Fay, Winemaker. iWineRadio1082a Douglas Stewart Lichen Estate Grower-Produced Sparkling Wines, Anderson Valley. iWineRadio1082b Signal Ridge 2012 Anderson Valley Brut Sparkling Wine, Stephanie Rivin. iWineRadio1082c Schulze Vineyards & Winery, Buffalo, NY, Niagara Falls Wine Trail; Ann Schulze. iWineRadio1082d Ruche di Castagnole Monferrato Red Wine of Piemonte, Italy, reporting, Becky Sue Epstein. iWineRadio1082e Hugh Davies on Schramsberg Brut Anderson Valley 2010 and Schramsberg Reserve 2007. iWineRadio1082f Kristy Charles, Co-Founder, Foursight Wines, 4th generation Anderson Valley. -
Testing the Hedonic Relationship Between Wine Quality and Price
A Hedonic Price Analysis for the New Zealand Wine Industry: Preliminary Results Katie Bicknell Lincoln University, Canterbury, New Zealand e-mail: [email protected] Lana Friesen Lincoln University, Canterbury, New Zealand Ian MacDonald Lincoln University, Canterbury, New Zealand Paper presented at the 2005 NZARES Conference Tahuna Conference Centre – Nelson, New Zealand. August 26-27, 2005. Copyright by author(s). Readers may make copies of this document for non-commercial purposes only, provided that this copyright notice appears on all such copies. A Hedonic Price Analysis for the New Zealand Wine Industry: Preliminary Results Katie Bicknell1, Lana Friesen and Ian MacDonald Lincoln University, Canterbury, New Zealand Abstract This paper presents preliminary results from a hedonic price analysis of premium wines in New Zealand over the vintages 1994 – 2003. Implicit prices are presented for a sensory quality rating, as well as wine variety and regional reputation. Results show that the price premium associated with Michael Cooper‟s five-star quality rating is highly significant and increasing in magnitude over the study period. Trends in regional and varietal preferences are also explored. Keywords: Hedonic pricing, New Zealand wine, quality 1. Introduction Wine is a differentiated product for which information about its true quality is limited until the time of consumption. As a consequence, buyers must use other indicators of a wine‟s value in order to make purchase decisions. Some potential indicators of a wine‟s quality such as the vintage, the region and the varietal are easily obtained from the wine‟s label prior to purchase.2 Other, more subjective, indicators of quality come in the form of quality rankings or recommendations from wine experts, and the receipt of various wine awards. -
A Steady Stratified Purely Azimuthal Flow Representing the Antarctic Circumpolar Current
A STEADY STRATIFIED PURELY AZIMUTHAL FLOW REPRESENTING THE ANTARCTIC CIRCUMPOLAR CURRENT CALIN IULIAN MARTIN Faculty of Mathematics, University of Vienna, Austria E-mail address: [email protected] RONALD QUIRCHMAYR∗ Department of Mathematics, KTH Royal Institute of Technology, Sweden E-mail address: [email protected] Abstract. We construct an explicit steady stratified purely azimuthal flow for the governing equations of geophysical fluid dynamics. These equations are con- sidered in a setting that applies to the Antarctic Circumpolar Current, accounting for eddy viscosity and forcing terms. Keywords: Antarctic Circumpolar Current, variable density, azimuthal flows, eddy viscosity, geophysical fluid dynamics. Mathematics Subject Classification: Primary: 35Q31, 35Q35. Secondary: 35Q86. 1. Introduction Thorough analytical investigations of exact solutions to the fully nonlinear governing equations of geophysical fluid dynamics (GFD) represent an extensive and active research area, which was initiated by Constantin [1{4] and Constantin and Johnson [5{8]. Following this approach, we construct a unidirectional flow satisfying GFD considered in the so-called f-plane at the 45th parallel south, enhanced with an eddy viscosity term and a forcing term, and equipped with appropriate boundary conditions. We propose this specific flow for representing the gross dynamics of the arXiv:2010.09389v1 [physics.flu-dyn] 19 Oct 2020 Antarctic Circumpolar Current (ACC)|the World's longest and strongest Ocean current. ACC has no continental barriers: it encircles Antarctica along a 23 000 km path around the polar axis towards East at latitudes between 40° to 60°, see Fig. 1. It thereby links the Atlantic, Pacific and Indian Oceans making it the most impor- tant oceanic current in the Earth's climate system. -
New Zealand Gazette
Jumb. 56 1531 'rHE NEW ZEALAND GAZETTE. WELLINGTON, THURSDAY, JUNE 16, 1921. Crown Land sd apart for Disposal, by way of Sale or Lease I hereby set apart and declared open for disposal by way of t" Di8charged Soldier., under Spef-ial Tenures, in the Auclc- I sale or lease ~o discharged soldiers, uuder specia.l tenures, in land Land Vi.tri,-I. the manner provided in the Baid Act. [L.S.] JELLICOE, Governor-General. tiCHEDULE. A PROCLAMATION. AUCKLAND LAND DISTRICT.-CROWN LAND. N pursuance of the power and authority conferred upon SECTION 2, Block XIV, Rotoiti Surv0Y District: Area, 83 I me by section four of the Discharged Soldiers Settle acres 1 rood 25 perches_ ment Act, 1915, I, John Rushworth, Viscount Jellicoe, Given under the hand of His Excellency the Governor Governor - General of the Dominion of New Zealand, do General of the Dominion of New Zealand; and issued hereby proclaim and declare that the area of Crown land under the Seal of that Dominion, at the Government described in the Schedule hereto shall be and the same is House at Wellington. this lOth day of June, 1921. hereby set apart and declared open for disposal by way of sale or leare to discharged soldiers, under special tenures, in the I D. H_ GUTHRIE, Minister of Lands. ma.nner provided in the said Act. I GOD SAVE THE KING! SCHEDULE. AUCKLAND LAND DISTRICT.-CROWN LAKD. Land set apart for Selection. SECTIO~ 10, Block LXIV, Te Aroba Township: Are", I rood. [L.S.] JELLICOE, Governor-General. Given under the hand of His Excellency the Governor A PROCLAMATION. -
A Steady Stratified Purely Azimuthal Flow Representing the Antarctic
Monatshefte für Mathematik https://doi.org/10.1007/s00605-019-01332-3 A steady stratified purely azimuthal flow representing the Antarctic Circumpolar Current Calin Iulian Martin1 · Ronald Quirchmayr2 Received: 20 August 2019 / Accepted: 9 September 2019 © The Author(s) 2019 Abstract We construct an explicit steady stratified purely azimuthal flow for the governing equations of geophysical fluid dynamics. These equations are considered in a setting that applies to the Antarctic Circumpolar Current, accounting for eddy viscosity and forcing terms. Keywords Antarctic Circumpolar Current · Variable density · Azimuthal flows · Eddy viscosity · Geophysical fluid dynamics Mathematics Subject Classification Primary 35Q31 · 35Q35; Secondary 35Q86 1 Introduction Thorough analytical investigations of exact solutions to the fully nonlinear governing equations of geophysical fluid dynamics (GFD) represent an extensive and active research area, which was initiated by Constantin [1–4] and Constantin and Johnson [5–8]. Following this approach, we construct a unidirectional flow satisfying GFD considered in the so-called f -plane at the 45th parallel south, enhanced with an eddy viscosity term and a forcing term, and equipped with appropriate boundary conditions. We propose this specific flow for representing the gross dynamics of the Antarctic Circumpolar Current (ACC)—the World’s longest and strongest Ocean current. Communicated by A. Constantin. B Ronald Quirchmayr [email protected] Calin Iulian Martin [email protected] 1 Faculty of Mathematics, University of Vienna, Vienna, Austria 2 Department of Mathematics, KTH Royal Institute of Technology, Stockholm, Sweden 123 C.I.Martin,R.Quirchmayr Fig. 1 Variations in density and the mean eastward current speed. The black lines in the image represent the fronts of ACC. -
American Wine Society News
AMERICAN WINE SOCIETY® NEWS Promoting Appreciation of Wine Through Education Volume 31, No. 2 www.americanwinesociety.org April-May 2017 What’s Inside National Office Open House & Conference Planning Kick-Off AWS Educational Foundation 11 David Falchek Chapter Events 8 Editor’s Musings 2 The atmosphere at the national office got fun Feb. Education Opportunities 4 10 for an open house. Conference Chair Diane Meyer and Tom Wallman (who wears two hats as Government Affairs 7 board treasurer and conference wine logistics guru), made a site visit to Kalahari Resort, venue Member Service News 3 for this fall’s conference, just 35 minutes away from the Nation- al Office. Such site visits include a meeting with local AWS National Office News 3 members to coordinate the legion of volunteers required to guarantee the conference runs smoothly. National Conference 4 Board President Kristin Kraft was there. Volunteer recruitment National Officer Nominations 5 targeted AWS members from throughout eastern Pennsylvania. Membership Services Manager Katie Kearney and I felt it would NTP—Order Your Wines Now `5 be a nice opportunity to open up the national office to visiting Regional Event—Eastern PA 10 volunteers, AWS members, and vendors. We outfitted the national office with photos and art from friends RVPs Rock 3 of the AWS. These include a photo portrait of AWS Founder Dr. Konstantin Frank, famously depicted leaning on a barrel; a Sharing Our History 6 th poster from the 25 Anniversary of the Chaddsford Winery, Top Recent Amateur Winemakers 6 whose founders Eric and Lee Miller were past Award of Merit winners; a signed poster from the Colorado Winefest from con- ference presenter and friend Doug Caskey.