The following recent article describes a price experiment with wine:

http://www.washingtonpost.com/busine...251_story.html

On 19/11/2014 5:28 PM, wrote:
> The following recent article describes a price experiment with wine:
>
> http://www.washingtonpost.com/busine...251_story.html
>
So?

wrote in
:

> The following recent article describes a price experiment with wine:
>
> http://www.washingtonpost.com/busine...-make-money-mi
> stakes-heres-why/2014/10/30/d34ede7e-5fae-11e4-91f7-5d89b5e8c251_story.
> html

This is the academic source for the idea:

http://www.pnas.org/content/105/3/1050.abstract


I have been doing similar research on the effects of the influence of
ratins on hedonic rating. Very interesting. Soon to be published,
hopefully.

Regards,

Santiago

On 11/19/2014 7:28 PM, wrote:
> The following recent article describes a price experiment with wine:
>
> http://www.washingtonpost.com/busine...251_story.html
>
Couldn't bring up the article but to be honest there seems to be a point
of diminishing return on enjoyment at higher price point for me at
least. I can appreciate expensive wine but can't justify making the
experience happen and if I do I feel a tad guilty when I think of the
great QPR wine at half the price that delivers almost the value. . .

"Joseph Coulter" wrote ...........
>
> Couldn't bring up the article but to be honest there seems to be a point
> of diminishing return on enjoyment at higher price point for me
> at least. I can appreciate expensive wine but can't justify making the
> experience happen and if I do I feel a tad guilty when I think of the
> great QPR wine at half the price that delivers almost the value

This is the exact reason when I was involved in the retail of wine' I
insisted that staff remove any price tags off bottles, and only provide a
priced invoice or sales slip if requested.

This was to ensure that the customer didn't get a larger headache next day
when he/she realised that that $200 bottle he/she was saving had been
consumed in the enthusiasm of the previous night.

An empty bottle has no value - any value lies in remembering the flavour
nuances and recalling the experience with like minded people.

But sometimes, I would rather have the $200 back in my pocket !!

On 20/11/2014 20:16, santiago wrote:> This is the academic source for
the idea:
>
> http://www.pnas.org/content/105/3/1050.abstract

An interesting piece of work that provoked a lot of online discussion
between wine lovers at the time - back in 2008.