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Solving for a Bias in the Standardized Expert Wine Score

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  • Paroissien, Emmanuel

Abstract

Cardebat and Paroissien (2015) have provided a new methodology to express the scores of different wine expert on the same rating scale. Their method consists in matching the quantiles of the distributions of each experts’s scores in an exhaustive dataset. However, they use the raw empirical distribution functions, which is arguably downward biased. This leads to a frequent upward bias in the converted scores. This paper exhibits the existence of this bias, provides the sign of the latter, and suggests a simple interpolation to mitigate it. (JEL Classifications: Q13, L15, C14).

Suggested Citation

  • Paroissien, Emmanuel, 2016. "Solving for a Bias in the Standardized Expert Wine Score," Working Papers 231132, American Association of Wine Economists.
    • Handle: RePEc:ags:aawewp:231132
    DOI: 10.22004/ag.econ.231132
    as

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    References listed on IDEAS

    as
    1. Héla Hadj Ali & Céline Nauges, 2007. "The Pricing of Experience Goods: The Example of en primeur Wine," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(1), pages 91-103.
    2. Ali, Héla Hadj & Lecocq, Sébastien & Visser, Michael, 2010. "The Impact of Gurus: Parker Grades and en primeur Wine Prices," Journal of Wine Economics, Cambridge University Press, vol. 5(1), pages 22-39, April.
    3. Cardebat, Jean-Marie & Figuet, Jean-Marc & Paroissien, Emmanuel, 2014. "Expert Opinion and Bordeaux Wine Prices: An Attempt to Correct Biases in Subjective Judgments," Journal of Wine Economics, Cambridge University Press, vol. 9(3), pages 282-303, December.
    4. Cardebat, Jean-Marie & Paroissien, Emmanuel, 2015. "Standardizing Expert Wine Scores: An Application for Bordeaux en primeur ," Journal of Wine Economics, Cambridge University Press, vol. 10(3), pages 329-348, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Research Methods/ Statistical Methods; Risk and Uncertainty;

    JEL classification:

    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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