Heavy Lifting - thoughts and web finds by an economist
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Wednesday, July 07, 2004
My dissertation was an exhaustive study of the free-rider Nash equilibrium that is inherent in so-called generic advertising, such as milk advertising ("Got Milk?"), cheese, catfish, baseball, etc. The dissertation was defended in 1996 and the resultant academic paper came out in the May 2002 Review of Industrial Organization - and is now cited in Carlton and Perloff's Modern Industrial Organization. Part of my story was a so-called troubled-industry justification for generic advertising.
This article suggests that the French wine industry might be in trouble, mainly because of increased competition from New World Wines, e.g., California and Australia. So, instead of exporting wine the French want to encourage consumption at home, which doesn't sit well with anti-alcohol activists in France.
It is refreshing to know that the United States is not the only country plagued with the do-gooder and a temperance movement. As the president of the [French] National Association for the Prevention of Alcoholism and Addiction said, "What this amounts to is that we can’t export all the wine we want to, so French people will have to drink it."
I suppose that is a bad thing.
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