Wine tasting datapoint of the day
From a paper by Johan Almenberg and Anna Dreber of the Stockholm School of Economics:
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… Disclosing the high price before tasting the wine produces considerably higher ratings, although only from women.
I’m not frankly a huge fan of this experiment: only two wines were used (a $5 wine and a $40 wine) and both were Portugese. I’m still pretty sure that men, if they’re presented with a very expensive wine from a region they respect (Bordeaux, say) will rate that wine much more highly than if they neither knew its provenance nor its price. Maybe the gender difference in this study was more a function of anti-Portugese snobbism in men than it was of price determining perception.