Freakonomics Blog: Do more expensive wines taste better?

When you take a sip of Cabernet, what are you tasting? The grape? The tannins? The oak barrel? Or the price? Latest Freakonomics podcast has the answer.

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New York Times, December 16, 2010, By STEPHEN J. DUBNER

Freakonomics Radio: Do More Expensive Wines Taste Better?

The latest Freakonomics Radio podcast is called "Do More Expensive Wines Taste Better?" (You can download/subscribe at iTunes, get the RSS feed or listen live via the link in box at right.)

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.

Read more.