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dc.contributor.authorGoldstein, Robinen_US
dc.contributor.authorAlmenberg, Johanen_US
dc.contributor.authorDreber, Annaen_US
dc.contributor.authorEmerson, John W.en_US
dc.contributor.authorHerschkowitsch, Alexisen_US
dc.contributor.authorKatzy, Jacoben_US
dc.date.accessioned2012-02-15en_US
dc.date.accessioned2012-03-28T13:01:48Z-
dc.date.available2012-03-28T13:01:48Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/56069-
dc.description.abstractIndividuals 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.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 700en_US
dc.subject.jelL15en_US
dc.subject.jelL66en_US
dc.subject.jelM30en_US
dc.subject.jelQ13en_US
dc.subject.ddc330en_US
dc.subject.keywordWineen_US
dc.subject.keywordprice/quality relationen_US
dc.subject.keywordexpertiseen_US
dc.subject.stwWeinen_US
dc.subject.stwProduktqualitäten_US
dc.subject.stwPreisen_US
dc.subject.stwWissenen_US
dc.subject.stwUSAen_US
dc.titleDo more expensive wines taste better? Evidence from a large sample of blind tastingsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn565279459en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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