If This Wine Got 96 Out of 100 Points, What Is Wrong with Me A Critique of Wine Ratings as Psychophysical Scaling

摘要

Along with technological changes, dispassionate expert wine evaluation to educate consumers might seem aimed at increasing market efficiency since consumer ignorance likely inhibits wine market growth, despite increased global affluence and a growing middle class. Considerable research has explored how ratings correlate with transaction prices, testing whether they help explain willingness to pay (WTP); that could suggest that they do indeed educate consumers.