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 …

We 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 …