The Production of Cultural Meaning and Price Formation on Wine Markets
Jens Beckert and Jörg Rössel, Universität Zürich
Why does the retail price for a bottle of wine vary between one and several hundred euros? This research project analyzes the German wine market in order to explain the extreme price variance within it. A broader goal is to understand value creation on consumer markets. Subprojects examine economic models to explain price formation on wine markets, the role of quality markers for the production of meaning, the political regulation of the wine market, and wine consumption in Germany. Project duration: October 2007 to July 2014.
Rössel, Jörg/Jens Beckert, 2013: Quality Classifications in Competition: Price Formation in the German Wine Market. In: Jens Beckert/Christine Musselin (eds.), Constructing Quality: The Classification of Goods in Markets. Oxford: Oxford University Press, 288-315.
Beckert, Jens/Jörg Rössel/Patrick Schenk, 2014: Wine as a Cultural Product: Symbolic Capital and Price Formation in the Wine Field. MPIfG Discussion Paper. Cologne: Max Planck Institute for the Study of Societies (forthcoming).