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  • Cited by 6
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    This article has been cited by the following publications. This list is generated based on data provided by CrossRef.

    Lu, Lu Rahman, Imran and Geng-Qing Chi, Christina 2016. Can knowledge and product identity shift sensory perceptions and patronage intentions? The case of genetically modified wines. International Journal of Hospitality Management, Vol. 53, p. 152.


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    Lewis, Geoffrey and Zalan, Tatiana 2014. Strategic Implications of the Relationship Between Price and Willingness to Pay: Evidence from a Wine-Tasting Experiment. Journal of Wine Economics, Vol. 9, Issue. 02, p. 115.


    Priilaid, David Sevenoaks, Michael Aitken, Ryan and Chisholm, Clint 2013. How price demeans sighted assessments across user profiles. International Journal of Wine Business Research, Vol. 25, Issue. 2, p. 108.


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When Does the Price Affect the Taste? Results from a Wine Experiment*

  • Johan Almenberg (a1) and Anna Dreber (a2)
  • DOI: http://dx.doi.org/10.1017/S1931436100001085
  • Published online: 01 June 2012
Abstract
Abstract

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 expensive, and little is lost if it is cheap. Disclosing a high price before tasting the wine produces considerably higher ratings, although only from women. Disclosing a low price, by contrast, does not result in lower ratings. Our finding supports the notion that price not only serves to clear markets, it also influences expectations that in turn shape a consumer's experience. In addition, our results suggest that men and women respond differently to attribute information concerning wine. (JEL Classification: C91, D03, D83, M31)

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Journal of Wine Economics
  • ISSN: 1931-4361
  • EISSN: 1931-437X
  • URL: /core/journals/journal-of-wine-economics
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