Is the second-cheapest wine a rip-off?
David de Meza and
Vikram Pathania
Economics Letters, 2021, vol. 205, issue C
Abstract:
The second-cheapest bottle on a restaurant wine list is widely thought to be priced to exploit naïve diners embarrassed to choose the cheapest option. This paper investigates whether this behavioral theory holds empirically. We find that the mark-up on the second-cheapest wine is significantly below that on the four next most expensive wines. It is therefore an urban myth that the second-cheapest wine is an especially bad buy.
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176521002421
Full text for ScienceDirect subscribers only
Related works:
Working Paper: Is the second-cheapest wine a rip-off? (2021) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:205:y:2021:i:c:s0165176521002421
DOI: 10.1016/j.econlet.2021.109965
Access Statistics for this article
Economics Letters is currently edited by Economics Letters Editorial Office
More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().