Wine, Red Bull, Reality

September 1, 2010 at 5:14 pm Leave a comment

Wine in a box is much cheaper.  I don’t meant is “cheaper-wine”, just…cheaper.  And the box is easier on the planet. Consider a wine company that packages their product in both bottle and boxes – the box version would be much cheaper than the glass version.  Same wine…lower price and Earth-friendlier. 

But the exciting part of this story is not the box vs glass.  It’s how important the perception of reality is to us.  From the article featuring box wines from Whole Foods Market (italics are mine):

Imagine this scenario: You’re given two identical bottles of wine, but are told that one cost $5 and the other cost $45. If you were asked to perform a taste test, do you think you’d prefer the pricier bottle?
When researchers at the Stanford Graduate School of Business and the California Institute of Technology
performed this test, they found that people said the “more expensive” wine tasted better — even though it was exactly the same as the “cheaper” bottle.

Baba Shiv, one of the study’s authors, previously found that people who paid full price for Red Bull energy drinks were able to solve more brain teasers than those who paid less for the same product.
In other words, how much you pay for something can affect how you perceive it.

And in OTHER other words: Reality IS what you perceive it to be

http://articles.moneycentral.msn.com/Banking/HomeFinancing/article.aspx?post=1799254&GT1=33006

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