At what price should Bordeaux wines be released?
研究了体验品（以波尔多葡萄酒为例）的最优发售价格，发现少量内在和外在属性就能解释大部分发售价格，且发售价格与二级市场价格及经济状况显著相关，短期偏差不影响长期趋同。
Abstract This paper models optimal release prices of an experience good recurrently issued on markets. Using a sample of Bordeaux wines, we find that using a minimal number of intrinsic and extrinsic attributes is sufficient to explain a large proportion of release prices. We further observe a significant relationship between primary market prices and secondary market prices and general economic conditions. Release prices can deviate from secondary market prices in the short run but remain aligned over the long run. Finally, an out‐of‐sample analysis indicates that short‐run mispricing directly affects the purchase behavior of customers.