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dc.contributor.authorGoldstein, Robinen
dc.contributor.authorAlmenberg, Johanen
dc.contributor.authorDreber, Annaen
dc.contributor.authorEmerson, John W.en
dc.contributor.authorHerschkowitsch, Alexisen
dc.contributor.authorKatzy, Jacoben
dc.date.accessioned2012-02-15-
dc.date.accessioned2012-03-28T13:01:48Z-
dc.date.available2012-03-28T13:01:48Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aStockholm School of Economics, The Economic Research Institute (EFI) |cStockholmen
dc.relation.ispartofseries|aSSE/EFI Working Paper Series in Economics and Finance |x700en
dc.subject.jelL15en
dc.subject.jelL66en
dc.subject.jelM30en
dc.subject.jelQ13en
dc.subject.ddc330en
dc.subject.keywordWineen
dc.subject.keywordprice/quality relationen
dc.subject.keywordexpertiseen
dc.subject.stwWeinen
dc.subject.stwProduktqualitäten
dc.subject.stwPreisen
dc.subject.stwWissenen
dc.subject.stwUSAen
dc.titleDo more expensive wines taste better? Evidence from a large sample of blind tastings-
dc.typeWorking Paperen
dc.identifier.ppn565279459en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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