Judgments of Paris, Princeton, and Lenox, Part 4

by Elliott Morss, Morss Global Finance Introduction As indicated earlier, it was striking in 1976 when Californian wines “sort of” beat French wines in Paris tastings. I say “sort of” because Orley Ashenfelter and Richard E. Quandt found that while Californian wines got the highest ranking in both red and white categories, judges found very …