Analysis of Reserve and Regular Bottlings: Why Pay for a Difference Only the Critics Claim to Notice?

Weil, Roman L.

doi:10.1080/09332480.2005.10722728

Cited by 41 publications

(31 citation statements)

References 1 publication

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“…This is consistent with Weil (2001Weil ( , 2005, who …nds that even among the subset of tasters who can distinguish between good and bad vintages, or reserve or regular bottlings, they are as likely to prefer the "better" one as the "worse" one.…”

Section: Resultssupporting

confidence: 73%

“…This is tested by having testers match wine descriptions to wines. In a similar setup to Weil (2001Weil ( , 2005, tasters are asked to distinguish the odd one out of three di¤erent glasses of wine. Only about 50% of the participants can distinguish the odd one out, and of those that manage to do it, only about half can correctly match a wine critic's description of the wine with the wine itself which is no better than a random guess.…”

Section: Resultsmentioning

confidence: 99%

“…Weil (2001Weil ( , 2005 uses the following experimental setup: two bottles of wine are poured into four containers. Tasters are then given three of the containers and asked to distinguish which one di¤ers from the other two.…”

mentioning

confidence: 99%

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Do More Expensive Wines Taste Better? Evidence from a Large Sample of Blind Tastings

Goldstein¹,

Almenberg

Dreber³

et al. 2008

J Wine Econ

139

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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 …nd 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 …nd indications of a positive relationship between price and enjoyment. Our results are robust to the inclusion of individual …xed e¤ects, 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 signi…cance is improved further. Our results indicate that both the prices of wines and wine recommendations by experts may be poor guides for non-expert wine consumers.

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Section: Resultssupporting

confidence: 73%

Section: Resultsmentioning

confidence: 99%

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Do More Expensive Wines Taste Better? Evidence from a Large Sample of Blind Tastings

Goldstein¹,

Almenberg

Dreber³

et al. 2008

J Wine Econ

139

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show abstract

“…This study is particularly interesting given that another study has found a positive relationship between price and medal status such that awards can influence a winery's economic success (Lima 2006). 2 In Weil (2005) subjects are to distinguish between a reserve bottling and a regular bottling, from the same producer and year. Among those who can distinguish between these two bottlings, only half prefer the reserve, whereas the wines differ in price by an order of magnitude.…”

Section: Introductionmentioning

confidence: 99%

“…Wine judges display low within-subject correlations when unknowingly judging the same wine multiple times (Hodgson 2008). 1 Tasters are only marginally better than a random guess at distinguishing vintage years from non-vintage years from the same vineyard, or reserve bottlings from regular bottlings from the same vineyard and year, despite large differences in price (Weil 2001(Weil , 2005. 2 And in a large sample of blind tastings, Goldstein et al (2008) find that more expensive wines fail to get higher ratings.…”

Section: Introductionmentioning

confidence: 99%

When Does the Price Affect the Taste? Results from a Wine Experiment

Almenberg¹,

Dreber

2011

J Wine Econ

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may AbstractWe designed an experiment that examines how knowledge about the price of a good, and the time at which the information is received, affects how the good is experienced. The good in question was wine, and the price was either high or low.Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is expensive, and little is lost if it is cheap. Disclosing the high price before tasting the wine produces considerably higher ratings, although only from women. Disclosing the low price, by contrast, does not result in lower ratings. Our finding supports the notion that price not only serves to clear markets, it also serves as a marketing tool; it influences expectations that in turn shape a consumer's experience. In addition, our results suggest that men and women respond differently to attribute information concerning wine.

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Exploration of consumer perception of Sauvignon Blanc wines with enhanced aroma properties using two different descriptive methods

Lezaeta

Bordeu

Næs

et al. 2017

Food Research International

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Analysis of Reserve and Regular Bottlings: Why Pay for a Difference Only the Critics Claim to Notice?

Cited by 41 publications

References 1 publication

Do More Expensive Wines Taste Better? Evidence from a Large Sample of Blind Tastings

Do More Expensive Wines Taste Better? Evidence from a Large Sample of Blind Tastings

When Does the Price Affect the Taste? Results from a Wine Experiment

Exploration of consumer perception of Sauvignon Blanc wines with enhanced aroma properties using two different descriptive methods

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