Orley Ashenfelter, Olivier Gergaud, Victor Ginsburgh, Karl Storchmann, 01 March 2013

Does terroir really affect a wine’s quality? This column argues that alleged experts repeatedly cannot tell a superstar wine from a cheaper bottle. Like many cultural commodities, it seems that the quality of wine is not an objective trait. Rather, these commodities become whatever we want them to become.

Richard Baldwin, 28 June 2008

Hard research on a soft topic shows that terroir doesn’t matter (except for the price) and the opinions of wine ‘experts’ don’t help predict a wine’s long-term value.

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CEPR Policy Research