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On the Information Content of Wine Notes: Some New Algorithms?

Author

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  • Klimmek, Martin

Abstract

We present a framework for measuring the information content or, more subjectively, the meaningfulness of wine tasting notes. Our analysis is based on developing a summary statistic related to Theil's uncertainty coefficient. The methods we develop can be used for the comparative analysis of tasting notes against a benchmark tasting system. An analysis of the examples of real and “fake†tasting notes in Quandt (2007) illustrates the method. We argue that the categorization of wine jargon leads to informative tasting notes. (JEL Classification: A12, C65, C83, D83)

Suggested Citation

  • Klimmek, Martin, 2013. "On the Information Content of Wine Notes: Some New Algorithms?," Journal of Wine Economics, Cambridge University Press, vol. 8(3), pages 318-334, December.
    • Handle: RePEc:cup:jwecon:v:8:y:2013:i:03:p:318-334_00
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    Cited by:

    1. Clarissa Laura Maria Spiess Bru, 2023. "Does the Tasting Note Matter? Language Categories and Their Impact on Professional Ratings and Prices," Working Papers Dissertations 105, Paderborn University, Faculty of Business Administration and Economics.
    2. Victor Ginsburgh, 2016. "On Judging Art and Wine," Working Papers ECARES ECARES 2016-21, ULB -- Universite Libre de Bruxelles.

    More about this item

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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