When buying wine, consumers often need to infer unobservable characteristics of the wines that are available. Product … scarcity in the store can signal that the quality of a wine is high, either because the product is deemed exclusive (when … specific wine increases consumer choice for this wine, and when it does not. Specifically, two experiments show that scarcity …

, search cost for quality information within a given store, and search cost for comparing across two competing electronic wine …

This is the story of the Princeton Wine Group, a group whose membership has been relatively constant for almost 40 … were correlated with several variables including professional wine ratings and the prices of the wine. The article … concludes with a discussion of lessons learned from a lifetime of wine tastings. …