BBC News: Perceived Quality of Wine Relating to Price

BBC News had an article this week about the price of wine and perceived quality, entitled "Raising a glass to pricey wine." The article describes an California Institute of Technology experiment where they had a panel that blindly tasted wine. The only information they were given is the price of the wine. Some prices, however, were not listed correctly. As it turns out, the panel members almost always rated the wine labeled more expensive as better, even if it was not.

I wonder if the experiment would work with wine enthusiasts that are often looking for great tasting wine that is well priced. These wine enthusiasts often have a trained palate to look for greatness in wine.

Anyway, check out the article. I found it interesting.