IDEAS home Printed from https://ideas.repec.org/a/cup/jwecon/v5y2010i01p143-163_00.html
   My bibliography  Save this article

Do Tasting Notes Add Value? Evidence from Napa Wines

Author

Listed:
  • Ramirez, Carlos D.

Abstract

This paper evaluates whether tasting notes—the brief testimony that describes the sensory properties of wines—add value. The analysis is based on a sample of over 2700 recent-vintage cabernet sauvignon wines evaluated by Wine Spectator. I estimate a dynamic wine price model to evaluate the marketing effect of the note, controlling for quality measures as well as other wine characteristics. The results indicate that the length of the tasting note exerts a strong positive influence on the wine's price, even after controlling for quality. A 10 percent increase in the number of characters in the tasting note (about 23 additional characters) contributes about two to four dollars to the price of the wine. Further analysis reveals that the value of the tasting note does not come from the “analytical” words contained in the note but rather, from the more subjective component of it. (JEL Classification: L66, L11, C23)

Suggested Citation

  • Ramirez, Carlos D., 2010. "Do Tasting Notes Add Value? Evidence from Napa Wines," Journal of Wine Economics, Cambridge University Press, vol. 5(1), pages 143-163, April.
    • Handle: RePEc:cup:jwecon:v:5:y:2010:i:01:p:143-163_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1931436100001425/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Clarissa Laura Maria Spiess Bru, 2023. "Does the Tasting Note Matter? Language Categories and Their Impact on Professional Ratings and Prices," Working Papers Dissertations 105, Paderborn University, Faculty of Business Administration and Economics.
    2. Aldott, Zoltan, 2021. "Predicting Specialty Coffee Auction Prices Using Machine Learning," Warwick-Monash Economics Student Papers 15, Warwick Monash Economics Student Papers.
    3. Jacobo Núñez & David Martín‐Barroso & Francisco J. Velázquez, 2024. "The hedonic price model for the wine market: A systematic and comparative review of the literature," Agricultural Economics, International Association of Agricultural Economists, vol. 55(2), pages 247-264, March.

    More about this item

    JEL classification:

    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jwecon:v:5:y:2010:i:01:p:143-163_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jwe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.