Are Expensive Wines Better?

Researchers at the California Institute of Technology have confirmed the notion that the price tag on a wine affects people's perception of it. In fact, they genuinely experience more pleasure drinking wines they believe are more expensive:

The part of the brain that reacts to a pleasant experience responded more strongly to pricey wines than cheap ones — even when tasters were given the same vintage in disguise.

and

A $90 wine was provided marked with its real price and again marked $10, while another was presented at its real price of $5 and also marked $45.The testers' brains showed more pleasure at the higher price than the lower one, even for the same wine . . . .

If someone else on the executive team urges you to lower the price on your product, be careful.

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