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JWE-Articles
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Journal of Wine Economics Volume 16 | 2021 | No. 3
»
Wine Ratings: Seeking a Consensus among Tasters via Normalization, Approval, and Aggregation

Wine Ratings: Seeking a Consensus among Tasters via Normalization, Approval, and Aggregation

Olivier Gergaud, Victor Ginsburgh & Juan D. Moreno-Ternero
JEL Clasification: C18, L15, L66
Pages: 321-342
Abstract

The modern era of wine journalism has provided abundant information about wines and wide- spread use of numerical rating systems. A tiny difference, especially at the top of the distribu- tion of ratings, may have striking consequences on wine sales and investment returns. This article provides a general framework to obtain a consensus among tasters’ opinions (reflected as numerical wine ratings) via three subsequent stages: normalization, approval, and aggregation. It is inspired by contributions in political science, social choice, game theory, and operations research. We apply it to the Judgment of Paris as well as to rank 2018 en-primeur Bordeaux wines, rated by five international experts.

Olivier Gergaud, Victor Ginsburgh and Juan D. Moreno-Ternero

Keywords: global wine score, Judgment of Paris, ratings, 2018 en-primeur Bordeaux wines, wines

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