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? The research project analyzes the German wine market in order to explain the extreme price variance in this market. 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 2013.