Take My Wine, Please, But Only If It's Cheap Because Expensive Wine Is a Waste of Money

Wine, it gets you drunk, but some aficionados seem to think it's got the antidote in there too. 

Why is that? 

In this video from Vox, they uncork why people think expensive wine is better than the cheap stuff, despite the fact that in blind taste tests, no one really thinks one is much better than the other. As it turns out, wine prices are driven by perception as buyers are influenced by things like price and label. However, as the video also points out, expensive wines sometimes taste really, really unpleasant.