The wine delusion

More documents

Recommendations

Info

taste five different wine bottles, priced at $5, $10, $35, $35, $45 and $90 respectively. There were however only three bottles, with the $5 bottle labelled as $45 and $90 bottle labelled as $10. The results, as noted by Plassmann et al (cited in Berdik, 2012), showed that the more expensive the wine, the more they liked it. In other words, increasing the price of the same wine significantly increases the pleasure one gets from it. These results mean that our brains connect sensory properties with expectations on how it should be. Knowing something beforehand about the quality of an experience gives us valuable additional information (Berdik, 2012). But our brains can’t evaluate this value in detail. Because it requires time, effort and thought. Our brains tend to default to mental shortcuts. Behavioural economists call this principle, ‘cognitive bias’ (MoesgaardKjeldsen, 2014). It sets up expectations based on the preexperience. However, if our expectations were well beyond our actual experience, there would be a clash. Behavioural economists call this principle, ‘contrast effect’ (Berdik, 2012). Which means, an average wine will taste even worse if people expected it to taste really well, or paid a lot for it. The contrast effect works exactly the same in opposite too. So, perhaps the only way to find our true preferences is to avoid expectations. The truths Blind tasting has been a saving ground, especially when it comes to dealing with problems of expectations on price versus quality. Goldstein (2008) published a manifesto in The Wine Trials with three useful arguments. First, expectations, especially those based on price, rule our evaluation of wine. Goldstein (2008) writes, ‘By questioning wine prices, 10
you will become less of a slave to expectations and more of a student of your own palate.’ Goldstein’s (2008) study revealed that everyday wine drinkers actually enjoyed expensive wine less. That is, people who are unaware of price do not get more enjoyment from expensive wines. Second, experts and critics who guide our wine preferences are notoriously inconsistent, unreliable and untrustworthy. This is an issue, especially because peoples’ wine preferences are largely swayed by critics’ preferences. Critics rate wines with scores on goldstandard magazines like Wine Spectator and Wine Advocate, seen as bibles of the industry. The American wine critic Robert Parker is undisputedly the world’s most influential person in wine, and has been since the last three decades. Parker also happens to be the editorinchief of its leading magazine, Wine Advocate. The Parker 100point score is the standard rating system for the wine market. So powerful is Parker that he wasn't exaggerating when he once said, ‘I can make or break a wine.’ In 2008, Goldstein went on to undercut the authority of such experts with a stunt that garnered international press. He put in the $250 application to Wine Spectator for a badge called the ‘Award of Excellence’. It is awarded to restaurants that have the best wine lists. He set up a fake restaurant, a website, a phone number with a Milan address. Its fake menu featured a list of the worstrated wines in the last two decades, reviewed by the very own Wine Spectator. Despite the size and obviousness of the error, his fake restaurant received an ‘Award of Excellence’. The only voicemail on his fake restaurant's phone number was left by Wine Spectator’s advertising department, to announce the news and enquire if they wanted to place an ad in their magazine. Critics are not only inconsistent 11
Page 1 and 2: Economics and Philosophy PHIL S16
Page 3 and 4: A bizarre market The wine market wo
Page 5 and 6: part of an elite group that used fa
Page 7 and 8: Chen, 2014). Brochet served the sam
Page 9: on this area by teaching monkeys to
Page 13 and 14: price, flavour expectations of such
Page 15 and 16: tried, their inconsistent results d
Page 17 and 18: quality consistently. So, how can p
Page 19 and 20: people are the more likely they are
Page 21: MoesgaardKjeldsen, S, 2014, ‘15

The wine delusion

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?