AIC researcher Robin Goldstein recently had a chapter published called  “Do More Expensive Wines Taste Better?” in Volume 1 of Handbook of the Economics of Wine

Handbook of the Economics of Wine
(In 2 Volumes)

Volume 1: Prices, Finance, and Expert Opinion
Volume 2: Reputation, Regulation, and Market Organization

Edited by: Orley Ashenfelter (Princeton University)Olivier Gergaud (KEDGE Business School, France)Karl Storchmann(New York University, USA)William Ziemba(UBC & London School of Economics, UK)