Estimating the Effect of the Order of Information Revelation on Purchases: Expectations and Subjective Experience in the Wine Market
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Recent research on consumer behavior has indicated that, contrary to most models in economics, information can affect consumers' subjective experience with a good. When consumers receive information about the quality of a good before experiencing the sensory characteristics of the good, the consumers' stated preferences for the goods have been affected. However, a study has yet to examine whether this affects consumers' purchasing decisions, or is limited to stated preference. This field experiment looks at the release of appellation information prior to and after tasting of wine, and uses sales of the two wines tasted as a dependent variable.