Marketers have always argued that price signals quality; this leads to the startling idea that one should just set a high price.
If you don't believe it, note how Coca Cola and Pepsi turned tap water into a premium-priced $1.7 billion market. As we now know, Dasani and Aquafina are just bottled tap water.
Even if one can turn water to wine, now researchers discovered the same rule applies. Unlike most scholarly articles, they actually published a well-made chart to illustrate their experiment.
Testers were given the same wine but told either it cost $10 or $90. Their brain activity is measured. The chart showed that those thinking it cost $90 (green line) had much better sensation about the wine than those thinking it cost $10 (blue).
A standard way to display this information is a data table that spells out every estimate and its standard error, plus some asterisk or bolding scheme to indicate statistical significance. Visualization is far superior.
Reference: "Study: $90 wine tastes better than the same wine at $10", News.com, Jan 14, 2008.