While the significance of narrative thinking has been increasingly recognized by social scientists, very little empirical research has documented its consequences for economically significant outcomes. The current paper addresses this gap in one important domain: valuations. In three...

Is it possible to exploit cognitive biases so that a non-professional taster prefers one wine to several other absolutely identical wines? To address this question, three complementary experiments were carried out. Each time, five wines were tasted blind in a tasting laboratory by 24 to 34...