Almenberg, Johan; Dreber, Anna - Economics Institute for Research (SIR), … - 2009
Expectations, Marketing,
Blind Tasting, Wine.
I. Introduction
Much economic analysis assumes that price simply reflects market …, 2001, 2005).
3
And in a large sample of blind tastings, Goldstein et
al. (2008) find that more expensive wines fail to get … light on how
consumers use extrinsic information about the product in forming an opinion about it. A blind …