Fruity Little Numbers – Value of Wine and relationship to viewing vs. tasting

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If you subscribe to The Economist, check out page 81 of this week’s (October 14 – 20, 2006) edition.  Two studies were released in The Journal of Wine Economics.  In one study, they looked at a price equation to compare 1,000 bottles of Bordeaux and Burgundy wines tasted blindly by experts and found that the price of wine is largely determined by objective standards such as color, ranking and vintage rather than simply by taste and smell.  In another, 120 people were observed during their bidding on non-vintage champagne after tasting it blind, after inspecting only the bottle, and after tasting it when seeing the bottle, and the bidding was 33% higher when tasters could see the bottle.


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