Complex stimulus triggering a complex memory, highly subject and stimulus dependent. No academic merit.

Special versus general case statistics. If you're building an amplifier to sell millions, you work to the average person, damned what any particular result happens to be. Average hearing response, average impressions, average everything. That maximizes the number of people to whom it gives value (generally not "value to the average person"), and therefore maximizes the quantity that can be sold. Good business.
Special case. A given person might experience things differently: different frequency response, different musical genres, etc. Optimizing to this will NOT maximize value to the average person (let alone the average
consumer), but will maximize the value to that particular person alone (and anyone who has similar stats, but that's likely to be a very small fraction out of the total market).
Double blind tests. As long as 1. the change is visible to the subject and/or 2. the change is known by the person administering the test (particularly obvious if they are one in the same person!),
the results ARE NOT VALID BY ANY SCIENTIFIC OR STATISTICAL MEASURE! For some reason. . . . . . double blind tests are especially frowned upon by the audiophile community. Strange, wouldn't you think? Surely those most especially interested in optimal sound (whether general or specific, as per the preceding paragraphs) would be the most excited about actually having provably ideal results! Alas, this is not the case! So one can only therefore conclude..... experience is not just audio alone, but visual, perceptive and more.
There is a monstrously large market for consumer equipment -- millions of units is small potatoes -- but it demands low cost. There is a narrow market for special-purpose equipment, ranging from the professional (those who actually objectively desire and require high performance equipment) to the rich (who have money to spare and therefore simply buy the most expensive) to the 'believers' (those on the very margins of the bell curve, who desire perfection suited specifically to their taste, and who are generally willing to pay for it). On the upside, the population even on the fringes is so large (tens of thousands, easily?) that it's a market all its own (part of the "long tail"), which is statistically why audiophool/phile-ry is so visible, and significant, and insignificant, all at once.
Really what it comes down to is: if a person wants to pay, say, $10,000 for an audio system that is not objectively better than a $100 system, it is their prerogative to do so. Evidently, the sheer act of 1. spending money and 2. knowing that they paid it (and can brag to others that they paid this*) can yield benefits which the pure "sound" alone cannot account for.
*Which is actually an evolutionary thing. Many species have evolved physical aspects which directly contradict "survival of the fittest", in terms of sheer performance alone; features which are costly to produce, yet physically useless -- counterproductive even -- to possess. This is known as the "handicap principle". Does it make sense to spend $10,000 on an audio system that's (objectively) worth $100? Yes! It shows -- not that you can afford $10,000 worth of equipment, because it's NOT worth that -- but that you can actively
waste that money and still come out ahead! That's the mind***k that... brings the ladies, I guess?!
Tim