Sobriety test. : Idiotion


Nov

6

Sobriety test.

Posted by Eddie O'Shan at 13:19 | Filed In Rationality, Economics

There’s a school of thought that the more you pay for something, the more you will think of it, even if it is the exact same item that you could have purchased more economically. This human trait is probably the underpinning of high fashion, art, music, food, and numerous other ‘branded’ goods. It’s irrational, but almost all of us are susceptible to this effect, at least in some realm of our lives.

Here’s a link to an article on Science Blogs where wine experts gave different opinions when served the same wines dressed up in different ways.

Despite the fact that they were actually being served the exact same wine, the experts gave the differently labeled bottles nearly opposite ratings. The grand cru was “agreeable, woody, complex, balanced and rounded,” while the vin du table was “weak, short, light, flat and faulty”. Forty experts said the wine with the fancy label was worth drinking, while only 12 said the cheap wine was.

What do you have an irrational preference for?

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