Patterns of Relative Cost of Champagne by the Same Producer: Analysis of the Cost of Entry-Level, Mid-Range, and Flagship Champagne*

Paul J. Merton

Journal of Wine Economics, 2017, vol. 12, issue 4, 426-435

Abstract: This paper examines the evolution of champagne prices in New York City from 1948 to 2013 by determining how many hours one must work, using after-tax income, to purchase a bottle of champagne. Each of the three brands analyzed—Bollinger, Louis Roederer, and Moët & Chandon—was divided into three tiers of nonvintage, vintage, and flagship champagne. The results indicated that all income groups worked fewer hours for entry-level nonvintage bottles of champagne, whereas the number of hours required to purchase flagship bottles generally increased. (JEL Classifications: E31, H24)

Date: 2017
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