Goldstein, Robin; Almenberg, Johan; Dreber, Anna; … - 2008
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 … effects, and are not driven by outliers: when omitting the top and bottom deciles of the price distribution, our qualitative …