Individuals who are unaware of the price do not derive more enjoyment from more expensive wine. In a sample of more than 6,000 blind tastings, we find that the correlation between price and overall rating is small and negative, suggesting that individuals on average enjoy more expensive wines slightly less. For individuals with wine training, however, we find indications of a positive, or at any rate non-negative, correlation.
That is, expensive wine is only better if you know how much it costs. Or you've trained your palette to recognise expensive wines.
Our results indicate that both the prices of wines and wine recommendations by experts may be poor guides for non-expert wine consumers.
That is, wine snobs like what wine snobs like, you go ahead and drink what you enjoy, no matter how cheap.