The price of wine influences men less than women. Its seems that women, on the other hand, find a more expensive wine nicer
By Bonella Ciacci and Donatella Cinelli Colombini
This is the result of a survey published by “Journal of Wine Economics” (2011,VI, n°1, pp 111-121) based on an experiment carried by Johan Almenberg and Anna Dreber respectively of the Ministry of Finance and of the Institute of Financial Research in Stockholm on 135 students and researchers of the universities of Boston, Cambridge and Massachusetts, a sample, which according to the experts, seemed representative of consumers with a low-medium wine culture.
The two researchers have served a wine costing 40 $ during 3 tastings: a blind tasting, a tasting where the price was known, and a tasting where the price of the wine was given afterwards. At the end of every tasting the “cavies” expressed their judgment regarding the quality.
At the end it resulted that the men maintained their opinion even after knowing the price of the wine, and in fact, reacted to the news in a critical way, as if to say < < at this price it ought to have been better>>.
Women on the contrary gave a different result. In the blind tasting their
appreciation was modest, when they were told that is was an expensive wine they found it good, and this piece of information positively influenced their evaluation even when they were told after the tasting.
In other words when the consumer’s appreciation is not based on sure criteria the price plays a fundamental role: the higher the price the better the wine seems, especially for the non experts and especially to women.