Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Friday, December 31, 2004

Judging a Wine by the Bottle's Dimple

According to this study, there is a positive correlation between the size of the dimple in the bottom of a bottle of wine and the price of the wine [link via Newmark's Door]. What this means is that when someone brings a bottle of wine as a gift, I can roughly estimate how much they spent for the wine, depending on how deep the dimple is, as if I care [note: my tastes in wine run to the screw-top variety, as indicated by my work with the Philistine Liberation Organization].

If others catch on to this scheme, then surely a market will develop for plonk with a big-dimpled bottle as a false signal, and this wine will temporarily become the wine of gifting. But that will happen only for awhile, for surely most recipients will not take long to discover the true quality of the wine.
Meanwhile, check it out at tonight's parties!
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