Prof Charles Spence on the Psychology of Wine Pricing

This show was published Friday, January 31, 2014

Overview

We explore the concept of end-anchoring and how that effects our judgement of how wines are priced and changes our perception of value when wines are promoted. Interestingly in blind tastings people generally cant predict the price of a bottle of wine but if they are told its an expensive wine the perceived pleasure they experience will be higher, even if in fact the wine is only a £5 bottle!

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Music

The music used for the UK Wine Show is Griffes de Jingle 1 by Marcel de la Jartèle and Silence by Etoile Noire.