In a blind taste test, researchers asked consumers to rate three wines: a low-priced wine, a medium-priced wine and an expensive wine. Throughout the study, the participants rated the wines with the prices visible. They rated them, unsurprisingly, in order of their price, with the most expensive being the “best,” the second most expensive being “second best,” and the third, cheapest option, being rated as “cheap wine.” What the tasters didn’t know is that the researchers gave them the exact same wine all three times.
