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The Positive Effect of Aging in the Case of Wine

1
Department of Economics and Business Administration, Ariel University, Ariel 40700, Israel
2
Department of Economics and Management, The Max Stern Yezreel Valley College, Yezreel Valley 19300, Israel
3
Department of Management, Bar-Ilan University, Ramat Gan 5290002, Israel
4
Zefat College, Zefat 1320611, Israel
*
Author to whom correspondence should be addressed.
Mathematics 2021, 9(9), 1012; https://doi.org/10.3390/math9091012
Received: 18 February 2021 / Revised: 18 April 2021 / Accepted: 27 April 2021 / Published: 29 April 2021
This paper examines the positive aspects of aging. Some items, such as valuable and rare stamps, old coins, works of art, and antiques, become more expensive over time. More popular examples demonstrating the positive effect of aging that influences price are the aging of boutique wine and artisan cheese. The present paper examines the wine aging process that brings about quality improvement. This process also leads to determining (i) optimal aging periods for different wines; (ii) optimal grape juice inventory allocations and prices for different wines; (iii) optimal quantities of different kinds of wine; and (iv) the time durations of wine production and consumption from each vintage. These aspects are considered in an environment in which the demand increases over time due to the aging and rarity of the product. View Full-Text
Keywords: wine aging; production duration; consumption duration wine aging; production duration; consumption duration
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MDPI and ACS Style

Gonen, L.D.; Tavor, T.; Spiegel, U. The Positive Effect of Aging in the Case of Wine. Mathematics 2021, 9, 1012. https://doi.org/10.3390/math9091012

AMA Style

Gonen LD, Tavor T, Spiegel U. The Positive Effect of Aging in the Case of Wine. Mathematics. 2021; 9(9):1012. https://doi.org/10.3390/math9091012

Chicago/Turabian Style

Gonen, Limor D., Tchai Tavor, and Uriel Spiegel. 2021. "The Positive Effect of Aging in the Case of Wine" Mathematics 9, no. 9: 1012. https://doi.org/10.3390/math9091012

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