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2008
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January
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- I go on the blog when Wolf Blitzer starts talking....
- Ahhhh, Communism.
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- The Corporation
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- Travel to Kenya in May
- Blogging the Politics of Juno at The Atlantic
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January
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3 comments:
Meh. Predictable. But the funny thing is that if regular people blind taste wine, it's almost always the MID-level bottles that get the best ratings. If you gave people from all backgrounds and levels of wine knowledge 3 glasses of wine...1 $10 bottle, 1 $30 bottle, and 1 $90 bottle, I'll bet money that the $30 will come out on top with the majority. Don't ask me to explain why. My guess is that the highest price wines are from the "establishment" vineyards and you're paying for their reputation more than anything. But a mid-priced wine is probably just a regular bottle that would be 10 bucks except that it turned out really good, so they priced it higher.
Also, I read something somewhere about how the type of grape manipulates the market value because it depends on if that grape is currently popular right now. For example, any shiraz is way overpriced and most merlots are underpriced. In the 1980's, when merlot was king, it was the opposite.
let's get drunk.
I wouldn't describe the popularity of, say, a shiraz compared to a merlot is a "manipulation" of market value. Market value is always determined by the price consumers are willing to pay. So the relative popularity of shiraz is what is determinative of the market value, rather than it being manipulative of market value.
Alright - fair enough. I'm using the wrong wording, but my point remains the same. A shiraz in 1988would have been much cheaper than one of identical value in 2008 (and I'm not referring to inflation of course). A merlot in 1988 was much more expensive than an identical merlot is nowadays. And I think that this is important to note when discussing the relationship between wine prices and perception of quality. It's like how the stylish jeans at Sears are more expensive than the unfashionable ones. There's no reason for it except that all of us are ridiculous and pay to be part of trends.
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