The placebo effect is frequently present in our lives when an expectation, associated with any psychoactive material, leads to subjective and physiological changes. The present work studies the role of expectancies associated with ethanol/alcohol in changes to the subjective state. In experimental situations, we examine how these expectations-with or without social influences-affect participants when consuming alcoholic, pseudo-alcoholic, or non-alcoholic cocktails. Psychological and physical changes can, to a significant extent, arise from an expectation-driven placebo effect. We suggest that expectations of inebriation formed by socialization and experiences can explain most of the behavioural changes following alcohol consumption. These effects seem to be stronger if the alcohol consumption happens in a social context and weaker if it is individually. Regarding the information effect, we suppose that the expectations will positively affect the drunkenness, i.e. toward the placebo "direction": those who believe they are consuming a non-alcoholic cocktail will be less inebriated than those who know their drink contains alcohol. In this study, we successfully demonstrate the expectation-induced classical placebo effect in the misinformed participants who were, in fact, consuming non-alcoholic drinks. The "social" alcohol consumption further enhances the true or believed effects of the alcohol, and thus the participants reported their subjective feelings in lines with their manipulated expectations. As regards the effect of the alcohol, therefore, many other factors contribute in addition to the alcohol itself, the most important of which seem to be group effect, suggestions and expectations.