CSUEB Economics Professor Tony Lima
CSUEB professor on the economics of California's wine industry
- August 6, 2012 5:00am
Cal State East Bay Economics Professor Tony Lima is a wine economist as well as a wine semi-professional. He was contacted by NerdWallet.com for advice on how their readers could determine the best deal when buying wine.
Lima explained his research on the relationship between price and quality for the California wine industry and suggested that wine consumers avoid trends and grandiose labels, and, instead, focus on the consistent and accurate measurements for general quality available. He said to look for medal winners from any California-based wine tasting competitions.
“Those who rely on price as an indicator of quality in this market will spend a lot of money and probably give up wine entirely,” says Lima. The reason, according to Lima, is that wine is subject to personal preference: “The fundamental problem is that each person has unique tastes, preferences, ability to detect aromas, and so on. Wines that we [Lima and his wife Norma] love you might hate.” It’s not hard to determine when a wine is truly bad, but once you enter the range of acceptable “it becomes a question of your taste versus ours.”
Read Lima's research, "Price and Quality in the California Wine Industry: An Empirical Investigation." (PDF)
California State University, East Bay is the San Francisco East Bay Area's high-access public university of choice. CSUEB serves the region with campuses in Hayward and Concord, a professional development center in Oakland, and an innovative online campus. With an enrollment of more than 14,000, the University offers a nationally recognized freshman year experience, award-winning curriculum, personalized instruction, and expert faculty. Students choose from among more than 100 professionally focused fields of study for which the University confers bachelor's and master's degrees, as well as an Ed.D. in education. Named a "Best in the West" college, as well as a Best Business School, by the influential Princeton Review, Cal State East Bay is among the region's foremost producers of teachers, business professionals and entrepreneurs, public administrators, health professionals, literary and performing artists, and science and math graduates.