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Is the second-cheapest wine a rip-off?

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  • معلومة اضافية
    • الموضوع:
      2021
    • Collection:
      The London School of Economics and Political Science: LSE Research Online
    • نبذة مختصرة :
      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.
    • File Description:
      text
    • Relation:
      http://eprints.lse.ac.uk/110874/1/EL_Revision.pdf; De Meza, David orcid:0000-0002-5638-8310 and Pathania, Vikram S. (2021) Is the second-cheapest wine a rip-off? Economics Letters, 205. ISSN 0165-1765
    • الدخول الالكتروني :
      http://eprints.lse.ac.uk/110874/
      http://eprints.lse.ac.uk/110874/1/EL_Revision.pdf
      https://www.journals.elsevier.com/economics-letters
    • Rights:
      cc_by_nc_nd_4
    • الرقم المعرف:
      edsbas.383CEAE