Luxist Article- Does Expensive Wine taste better than Cheap Wine?

Check out this article on Luxist.com which discusses whether expensive wine tastes better than cheap wine. And to back it up, here is the research paper on the same subject.

Cheap Wine It's tastier than you think!

I just came across an article in Wikipedia that talks about how we perceive wine. Here is an excerpt about wine tasters- "When given wine that they are falsely told is expensive they virtually always report it as tasting better than the very same wine when they are told that it is inexpensive." Very interesting... and it goes along with my thoughts that a lot of people short-change the more affordable wines. Try a blind-tasting yourself and see what kind of results you get.