The Value of a Price Tag

Asking, “Do More Expensive Wines Taste Better?” a group of researchers decided to find out. They described the results of their study in a working paper for the American Association of Win…

Adam Smith and Wine

Known for his absentmindedness, Adam Smith seemed always to be pondering economic issues. According to The Economist, not always. In their December 17 issue, Smith is quoted in an article on the histo…

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