The Pricing of Experience Goods: The Example ofen primeurWine
利用波尔多期酒市场数据，发现生产商的定价主要依赖声誉，而非短期质量变化；期酒价格每上涨10%，瓶装酒价格随之上涨3%。
The market for “primeur” wine in the Bordeaux region allows producers to sell wine that is still in barrels. As with all experience goods, producers send quality signals to uninformed buyers. Using original data on Bordeaux wines, we show that the pricing behavior of producers depends to a large extent on their reputation, and much less on short‐term changes in quality (as measured by experts' grades). We also find that the primeur price has an informative role, since a 10% increase in primeur price leads to a 3% increase in prices on the market for bottled wine.