Wednesday, January 16, 2008

Wine Study Shows Price Influences Perception

A report published last Monday shows how price influence perception. Caltech and Stanford researchers performed a study in which they asked 20 volunteers to rate five samples of wine. They were told the prices of each sample ($5, $10, $35, $45, and $90 per bottle). What the volunteers didn't know was that the $90 bottle (actual price) and the $10 bottle were identical, as were the $45 bottle and $5 bottle (actual price). The study participants preferred the more expensive wines (ranked exactly by price). Measured brain activity also corresponded w/ these results.

(Credit: Caltech, Stanford)

In a follow-up experiment, the same group was asked to rate the same five samples, this time without price information. They rated the $5 and $45 bottles best.

Here's the full article:
Wine Study Shows Price Influences Perception

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