Nuevas orientaciones para el análisis económico de la responsabilidad social empresarial

Corporate social responsibility has both individual and collective foundations. At the individual level, we present CSR as a risk-reducing tool and show that this approach leads to a novel interpretation of existing empirical results on the link between profits and CSR. At the collective level, we apply the theory of technological diffusion in networks of companies to explain the diffusion process of CSR.La responsabilidad social empresarial tiene fundamentos individuales y fundamentos colectivos. Al nivel individual, discutimos la RSE como estrategia para limitar el riesgo empresarial .y enseñamos como este enfoque conduce a una novel interpretación de los resultados empíricos sobre la relación entre RSE y ganancias. Al nivel colectivo, aplicamos la teoría sobre la difusión de tecnologías en una red de empresas para explicar el proceso de difusión de la RSE

Introduction: Does a National Model Exist Which Favors Trade Performance?

The previous parts (Parts I and III) reveal the multiplicity of organization models existing in the wine sector. Choosing the degree of vertical integration therefore appears as a crucial factor for these organization models (Part IV). At present we need to appraise the efficiency of these models. The key question to be asked revolves around the existence of a model which will dominate the others in terms of efficiency and economic performance, a model toward which all wine companies should eventually converge. This question is particularly relevant in Europe where the global model is heavily based upon the collective management of the company’s reputation through the Protected Designation of Origin (PDO), small-scale properties and upstream rather than downstream integration. (...

Trade uncorked: Genetic distance and taste‐related barriers in wine trade

A nascent literature explores the impact of taste differences on trade. In gravity model estimations, the coefficient on geographic distance is large because it tends to capture such (usually unobservable) preference-related frictions. We examine this question in the context of French wine, that is, a cultural good characterized by a great variety of types (i.e. accommodating a large heterogeneity in wine tastes) and of quality levels (from cheap table wine to the finest grands crus). A series of gravity models are estimated using the universe of French bottled wine exports by detailed appellation between 1998 and 2015. We use genetic distance as a proxy for taste differences inherited from biology and culture. We show that this interpretation is not ruled out by other possible roles of genetic distance on trade (i.e., microgeography or nongustatory cultural dimensions such as trust). We find that genetic distance has an independent effect on trade, explaining between 20% and 40% of the coefficient on geographic distance. Dynamic estimates confirm this result and establish both the persistent and contemporaneous effects of genetic differences. A heterogeneous analysis also corroborates previous findings in the literature showing that high-tier goods tend to escape gravity. In addition, we find that premium wines escape the home bias associated with taste differences, possibly illustrating that luxury wines have become global iconic products purchased for status and investment motives rather than for gustatory pleasure

From Gurus to Geeks? The Role of Customer and Expert Ratings in a Hedonic Analysis of French Red Wine Prices

Wine is an experience good whose true quality can only be known by consuming it. This characteristic provides a rationale for recourse to experts who provide information on wine quality and reduce the information asymmetry for the consumer. Consumers may come to rely more on the comments and ratings of other consumers or peers, rather than those of experts (guides, specialized journals, personalities). This tendency has been observed in the hospitality (restaurants, hotels) and cultural (movies, novels) markets where popular applications exist and allow information to be collected from peers. We hypothesize that consumers’ ratings will come to dominate expert ratings in the wine expertise market. We use the ratings posted by consumers on the Vivino online marketplace for 37,960 French red wines. We employ a hedonic regression framework which includes the usual attributes of the wines as well as the ratings from both recognized experts and those of consumers on the Vivino platform. Average consumer ratings are found to have a larger effect on price than expert scores. These results are found to be robust to outliers and the general conclusion that peers matter more than experts holds when we exclude the top-end wines

Et si la génétique expliquait aussi les tendances sur le marché mondial du vin ?

https://theconversation.com/et-si-la-genetique-expliquait-aussi-les-tendances-sur-le-marche-mondial-du-vin-19103

Do Top 100 wine lists provide consumers with better information?

This paper shows that the Wine Spectator Top 100 list mixes objective and subjective information while resembling a bargain wines list, in which the ranking is better when the price (score) is lower (higher). Indeed, there is a weak but positive and significant correlation between the WS ranking and the hedonic bargain wines rank calculated in this analysis. However, significant geographic bias, wineries bias, and the large part of unexplained variance of the WS ranking reveal that some subjective information also determines the WS Top 100 ranking. This blend of objective and subjective determinants, added to the formal aspect of the list, hierarchized from 1 to 100, might mislead the consumer into considering this ranking as a \u201cbest (top 100) bargain wine list\u201d. Therefore, this impossibility to disentangle objective from subjective information could be seen as a source of inefficiency on the wine market. Splitting the WS Top 100 list into a hedonic bargain wine list (based on objective components) and a non-hierarchized \u201ccrush\u201d wine list could be a solution for reinforcing the quality of the information on the wine market