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>To some extent, wine is a Veblen good. To me it feels like it's 100% Veblen over $120 and partially Veblen if it's > $25. IIRC in blind taste tests ordinary
by crdoconnor 9y ago
>To some extent, wine is a Veblen good.
To me it feels like it's 100% Veblen over $120 and partially Veblen if it's > $25.
IIRC in blind taste tests ordinary people tend to prefer cheaper wines and even the most obsessive oenophiles and sommeliers will not show consistent preferences for bottles that cost more than about $120.