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June 29, 2007

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Mike

The issue is not that scarcity leads to higher prices, but that there is a surprising difference from restaurant to restaurant, where the same bottle in the same market can go for $50 at one, and over $100 down the street. See, for example, http://www.dis-equilibrium.com/2007/09/restaurant-wine-prices.html

Jim Viall

what is a fair way to price restaurant wine, by the glass and by the bottle?

Thanks

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