Normal view MARC view ISBD view

Reversals in Wine Auction Prices /

by Ginette McManus; Rajneesh Sharma and Ahmet Tezel.
Material type: materialTypeLabelComputer fileSeries: Journal of Wine Economics.Publisher: American Association of Wine Economists, 2013ISSN: 1931-4361. In: Journal of Wine Economics (Vol.) Volume 8. (No.) No. 2. 2013.Summary: This paper investigates reversals in wine auction prices following a series of strong positive and negative returns. Using the Chicago Wine Company’s auction data, we find evidence of reversals after extreme wine price changes. There is a clear asymmetry in the market reaction to wine price increases and declines. Wine price declines after strong price increases are not, in general, as significant as wine price increases after strong price declines. The strongest reversal occurs for wines that have declined in price by more than 30 percent. (JEL Classifications: D44, G14).
Tags from this library: No tags from this library for this title.
No physical items for this record

This paper investigates reversals in wine auction prices following a series of strong positive and negative returns. Using the Chicago Wine Company’s auction data, we find evidence of reversals after extreme wine price changes. There is a clear asymmetry in the market reaction to wine price increases and declines. Wine price declines after strong price increases are not, in general, as significant as wine price increases after strong price declines. The strongest reversal occurs for wines that have declined in price by more than 30 percent. (JEL Classifications: D44, G14).

There are no comments for this item.

Log in to your account to post a comment.