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What does the current study prove? Some wines cost more? What needs to be studied is if there is a correlation between price amd consumer preference. As far as

by aneth 15y ago

What does the current study prove? Some wines cost more? What needs to be studied is if there is a correlation between price amd consumer preference. As far as I can tell, this was not an effort to do that, but rather to prove the obvious: you can't taste price. This is true for any kind of food. Can you look at two pieces of art and tell which is ore expensive? No. Is better art more expensive? Sometimes, usually yes, and often eventually. Same can be said for wine. Price is a product of demand, demand depends on information and information distribution. Both products are small batch and highly personal, so price quality correlations will be less accurate and change over time.

JoachimSchipper 15y ago
Art is usually unique; I'm not sure the markets are comparable (wines have a limited run, but not so limited that two true fans will push the price into the millions.) This study shows that some/many wines cost more, yet don't taste better. In other words, a random expensive wine is likely not great from a price-quality, or even just quality, perspective. This is relevant to the unsophisticated buyer, i.e. most of their readers. I think you're arguing that, essentially, a well-chosen expensive wine is noticeably better than a similarly well-chosen not-so-expensive wine. I'm inclined to believe you, but that is much harder for the average consumer to act on.
- aneth 15y ago
  Yes, that's basically my point. I also think, on average, a higher price wine will be better than a lower price wine. A lot of these arguments could be made for any product or service. If you pay more for your house, does it mean that you will live happier? No. You may be much happier in central Montana than New York. If you pay more for your clothes, do they look better? If you pay more for your music, do you enjoy it more? The whole debate is non-sense. Any consumer who thought they were necessarily getting better wine simply because they paid more probably is not literate enough to have understood this article.
  - JoachimSchipper 15y ago
    > I also think, on average, a higher price wine will be better than a lower price wine. You'd expect that, yes, but this article and similar studies strongly suggest that this is not actually true (at the high end, at least). That's the entire point.

by aneth 15y ago

JoachimSchipper 15y ago

Art is usually unique; I'm not sure the markets are comparable (wines have a limited run, but not so limited that two true fans will push the price into the millions.) This study shows that some/many wines cost more, yet don't taste better. In other words, a random expensive wine is likely not great from a price-quality, or even just quality, perspective. This is relevant to the unsophisticated buyer, i.e. most of their readers. I think you're arguing that, essentially, a well-chosen expensive wine is noticeably better than a similarly well-chosen not-so-expensive wine. I'm inclined to believe you, but that is much harder for the average consumer to act on.

aneth 15y ago
Yes, that's basically my point. I also think, on average, a higher price wine will be better than a lower price wine. A lot of these arguments could be made for any product or service. If you pay more for your house, does it mean that you will live happier? No. You may be much happier in central Montana than New York. If you pay more for your clothes, do they look better? If you pay more for your music, do you enjoy it more? The whole debate is non-sense. Any consumer who thought they were necessarily getting better wine simply because they paid more probably is not literate enough to have understood this article.
- JoachimSchipper 15y ago
  > I also think, on average, a higher price wine will be better than a lower price wine. You'd expect that, yes, but this article and similar studies strongly suggest that this is not actually true (at the high end, at least). That's the entire point.