The positive effect of aging in the case of wine

Limor Dina Gonen, Tchai Tavor, Uriel Spiegel

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

Abstract

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 ex-amples 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 in-creases over time due to the aging and rarity of the product.

Original languageEnglish
Article number1012
JournalMathematics
Volume9
Issue number9
DOIs
StatePublished - 1 May 2021

Bibliographical note

Publisher Copyright:
© 2021 by the authors. Licensee MDPI, Basel, Switzerland.

Keywords

  • Consumption duration
  • Production duration
  • Wine aging

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