“Individuals who are unaware of the price do not derive more enjoyment from more expensive wine.”
This is the conclusion reached in an American Association of Wine Economists paper, cited recently by the Freakonomics guys.
And the conclusion should come as no surprise, based on what we’ve learned in the past about experts and their opinions about high-end wines and liquor brands:
‘Expert’ Wine Sippers Take Us All for Suckers
Cheapskate Wisdom … About Pricey High-Profile Liquor Brands