Marginal Revolution University
Published 30 Sep 2020What does an economist know about wine? Given that many wines need years to mature, how can one predict which ones will be great or not?
Princeton’s Orley Ashenfelter explains how he used economic principles and regression analysis to predict wine quality (and score great deals!). His research helped spawn an entire field dedicated to the economics of wine.
This video is based on the following paper:
Predicting the Quality and Prices of Bordeaux Wines By Orley Ashenfelter
https://www.researchgate.net/publicat…More of Orley Ashenfelter’s work: https://irs.princeton.edu/people/orle…
Orley Ashenfelter’s vineyard: https://cedarrosevineyards.com/
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