Can someone just tell me that my next glass came from a $200 bottle?
When you take a sip of Cabernet, what are you tasting? The grape? The tannins? The oak barrel? Or the price?
Believe it or not, the most dominant flavor may be the dollars. Thanks to the work of some intrepid and wine-obsessed economists (yes, there is an American Association of Wine Economists), we are starting to gain a new understanding of the relationship between wine, critics and consumers.