a1 Fuqua School of Business, Duke University, 100 Fuqua Drive, Box 90120, Durham, NC 27708, email: firstname.lastname@example.org
This paper reports an analysis of data from the “Judgment of Paris,” the 1976 blind tasting of California and French wines that revolutionized the wine world. Using both empirical and analytical methods, I demonstrate that the wine quality judgments of the renowned experts who participated in the Paris tasting would have been improved simply by averaging the quality ratings of two or more of the judges. Moreover, I explore both how many of the Paris judges should be included in the average and which ones they should be. The results have implications for the practical issue of choosing judges to include in tasting panels that award prizes or provide expert advice to consumers, as well as for better understanding the variability in the price-quality association across hedonic wine pricing studies. (JEL Classification: C93)
* I am indebted to Jack Soll for conversations that have improved this paper and to Zhenhua Chen for excellent research assistance. I would also like to thank the editor (Karl Storchmann) and the anonymous reviewer for helpful comments.