Even for Wine Connoisseurs, Cheap is Good

Considerable economic analysis has been done on how people choose wine, with the primary findings being that choices are rarely connected to taste and that prices do not accurately predict taste. People appear to buy wine based on color, brand name, label and ratings — which are frequently argued by experts — but carefully conducted large blind tastings show more expensive wines are actually not preferred.
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Some people buy wine because it is expensive, though, either because they are buying wine as a gift, don’t know anything about it and are reassured by buying an expensive one; or because they believe buying expensive wines will make others think they are wine connoisseurs.


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