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In a study conducted by Robin Goldstein, Johan Almenberg,
Anna Dreber, Alexis Herschkowitsch, and Jacob Katz a sample of more than
6,000 blind tastings was taken. The results were part of the Working
Paper read out on April 16 at the annual meeting of American
Association of Wine Economists at Portland.
Individuals who are unaware of the price do not derive
more enjoyment from more expensive wine. In a sample of 6,175 blind tastings,
authors found that the correlation between price and overall rating was
small and negative, suggesting that individuals on average enjoy more
expensive wines slightly less.
For individuals with wine training, however, they find
indications of a positive, or at any rate non-negative, correlation. The
results indicate that both the prices of wines and wine recommendations
by experts may be poor guides for non-expert wine consumers.
In terms of a 100 point scale (used by Robert Parker
and Wine Spectator), the extended model further predicts that for a wine
that costs ten times more than another wine, non- experts will on average
assign an overall rating that is about four points lower, whereas experts
will assign an overall rating that is about seven points higher.
The data set contains 6,175 observations from 17 blind
tastings organized by wine critic, Robin Goldstein, which took place in
the US between April 2007 and February 2008. A total of 506 participants
tasted wine flights composed from 523 different wines. The wines were
presented in a double-blind manner, so that neither the person serving
the wine nor the person tasting the wine knew the identity or price of
the wine.
The results indicate another reason why the average
wine drinker may not benefit from expert wine ratings: he or she simply
doesn't like the same types of wines as experts. This is consistent with
earlier studies by Weil in 2001and 2005, where he found that even among
the subset of tasters who can distinguish between good and bad vintages,
or reserve or regular bottlings, they are as likely to prefer the "better"
one as "worse"
These findings raise an interesting question: Is the
difference between the ratings of experts and non-experts due to an acquired
taste or due to an innate ability, which is correlated with self-selection
into wine training? Investigating this further would be a fruitful avenue
for future research, says the report.
In sum, in a large sample of blind tastings, 'we find
that the correlation between price and overall rating is small and negative.
Unless they are experts, individuals on average enjoy more expensive wines
slightly less. The results suggest that both price tags and expert recommendations
may be poor guides for non-expert wine consumers who care about the intrinsic
qualities of the wine,' conclude the authors.
The study is relevant for the wine importers and consumers
in India. Still in the nascent stage, most consumers fall in the former
category. Going by the results of the study, the cheaper wines would be
a better value, at least for the next few years. As our palates improve
and we move to the second category, the taxes may also come down making
higher priced wines cheaper and more affordable.
Subhash Arora
April 18, 2008
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