In the world of wine there’s a vast disconnect between price and quality — as savvy wine buyers are happy to remind their more profligate friends. Despite this, there’s no shortage of consumers who make price (a higher rather than a lower one) their primary criterion when confronted with a purchase decision.

Some restaurateurs readily exploit this, using it as a strategy to sell higher-margin items. They know their customers suspect the quality of whatever appears to be cheap. By the same token, they are unlikely to buy whatever is the most expensive. Accordingly, they place the wines carrying their highest markups a few notches above the cheapest wines on the list...

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