Arbeitspapier

Do more expensive wines taste better? Evidence from a large sample of blind tastings

Individuals who are unaware of the price do not derive more enjoyment from more expensive wine. In a sample of more than 6,000 blind tastings, we find that the correlation between price and overall rating is small and negative, suggesting that individuals on average enjoy more expensive wines slightly less. For individuals with wine training, however, we find indications of a positive, or at any rate non-negative, correlation. Our results are robust to the inclusion of individual fixed effects, and are not driven by outliers: when omitting the top and bottom deciles of the price distribution, our qualitative results are strengthened, and the statistical significance is improved even further. Our results indicate that both the prices of wines and wine recommendations by experts may be poor guides for non-expert wine consumers.

Language
Englisch

Bibliographic citation
Series: SSE/EFI Working Paper Series in Economics and Finance ; No. 700

Classification
Wirtschaft
Information and Product Quality; Standardization and Compatibility
Food; Beverages; Cosmetics; Tobacco; Wine and Spirits
Marketing and Advertising: General
Agricultural Markets and Marketing; Cooperatives; Agribusiness
Subject
Wine
price/quality relation
expertise
Wein
Produktqualität
Preis
Wissen
USA

Event
Geistige Schöpfung
(who)
Goldstein, Robin
Almenberg, Johan
Dreber, Anna
Emerson, John W.
Herschkowitsch, Alexis
Katzy, Jacob
Event
Veröffentlichung
(who)
Stockholm School of Economics, The Economic Research Institute (EFI)
(where)
Stockholm
(when)
2008

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Arbeitspapier

Associated

  • Goldstein, Robin
  • Almenberg, Johan
  • Dreber, Anna
  • Emerson, John W.
  • Herschkowitsch, Alexis
  • Katzy, Jacob
  • Stockholm School of Economics, The Economic Research Institute (EFI)

Time of origin

  • 2008

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