Another contributing factor to the failure of the Guardian poll is how we as individuals are poor at anticipating how our future tastes might change.
Cross sees his 150-plus-day steaks – so far only served to guinea pigs – as a future tasting menu item, which will be served in small portions with, say, a few pickled blueberrries.
However, accurately predicting future tastes requires that consumers understand both the direction and magnitude of how their tastes might change (Loewenstein et al., 2003).
Loewenstein et al. (2003) coined the term "projection bias" to describe the general bias that has been documented in relation to the prediction of future tastes.
Subjects are willing to pay 34 cents more when they are hungry as compared to when they are satiated but this effect almost doubles to 61 cents when subjects have to predict their future tastes.
Results indicate that the difference in bids between a hot state (hunger) and a cold state (satiation) almost doubles when subjects have to predict their future tastes versus when they bid for a product intended for immediate consumption.
The futures tasting is a low-key, enjoyable event, just an afternoon of tasting and talking with winemakers close up and personal.
Those who attend the futures tasting, though, have the opportunity to buy the wines before they're released, giving the winemakers some much needed cash flow and the buyers a 20% discount.
One day I sat in the anchor chair to get an idea of what the future could taste like.
