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1 results

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

  • Martin Klimmek
  • Journal:
    Journal of Wine Economics / Volume 8 / Issue 3 / December 2013
    Published online by Cambridge University Press:
    04 November 2013, pp. 318-334

  • 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)