Love or Money? The Effects of Owner Motivation in the California Wine Industry
AbstractModels that assume only consumer tastes determine the characteristics of supply are restrictive; producers can gain utility from aspects of production and pay for deviating from demand by accepting lower financial returns. We model and measure motivations of California winery owners, and analyze their effects on quality and price. We find utility-maximizers are more likely to produce high quality and set higher quality-adjusted prices. Profit-oriented owners are less likely to produce high quality wines. These results suggest that the presence of hobbyists who enjoy producing high quality may lower financial returns in the segment and discourage profit-maximizers from locating there. Copyright 2002 by Blackwell Publishing Ltd
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 50 (2002)
Issue (Month): 4 (December)
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Negro, Giacomo & Hannan, Michael T. & Rao, Hayagreeva & Leung, Ming D., 2007. "No Barrique, No Berlusconi: Collective Identity, Contention, and Authenticity in the Making of Barolo and Barbaresco Wines," Research Papers 1972, Stanford University, Graduate School of Business.
- Chandra, Yanto & Coviello, Nicole, 2010. "Broadening the concept of international entrepreneurship: 'Consumers as International Entrepreneurs'," Journal of World Business, Elsevier, vol. 45(3), pages 228-236, July.
- Ramana Nanda, 2008. "Cost of External Finance and Selection into Entrepreneurship," Harvard Business School Working Papers 08-047, Harvard Business School.
- William Dunkelberg & Carmen Moore & Jonathan Scott & William Stull, 2012. "Do Entrepreneurial Goals Matter? Resource Allocation in New Owner-Managed Firms," DETU Working Papers 1203, Department of Economics, Temple University.
- Kenkel, Philip L. & Holcomb, Rodney B. & Hill, Amanda, 2008. "Feasibility of a Co-operative Winery," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 26(2).
- David Hojman, 2005. "Network Learning, Principal-Agent Conflict, and Award-Winning Wine-Making in Chile's Colchagua Valley," Research Papers 200512, University of Liverpool Management School.
- Castriota, Stefano & Delmastro, Marco, 2008.
"Individual and Collective Reputation: Lessons from the Wine Market,"
45504, American Association of Wine Economists.
- Castriota Stefano & Delmastro Marco, 2010. "Individual and Collective Reputation: Lessons from the Wine Market," L'industria, Società editrice il Mulino, issue 1, pages 149-172.
- Vroom, Govert & Mccann, Brian T., 2009. "Ownership structure, profit maximization, and competitive behavior," IESE Research Papers D/800, IESE Business School.
- Dunkelberg, William & Moore, Carmen & Scott, Jonathan & Stull, William, 2013. "Do entrepreneurial goals matter? Resource allocation in new owner-managed firms," Journal of Business Venturing, Elsevier, vol. 28(2), pages 225-240.
- Kelley, Hugh & Evans, Tom, 2011. "The relative influences of land-owner and landscape heterogeneity in an agent-based model of land-use," Ecological Economics, Elsevier, vol. 70(6), pages 1075-1087, April.
- Beckert, Jens & Rössel, Jörg & Schenk, Patrick, 2014. "Wine as a cultural product: Symbolic capital and price formation in the wine field," MPIfG Discussion Paper 14/2, Max Planck Institute for the Study of Societies.
- Harrison, Teresa & Seim, Katja, 2013. "Nonprofit tax exemptions and market structure: The case of fitness centers," School of Economics Working Paper Series 2013-4, LeBow College of Business, Drexel University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.