A variable slight reduction in aroma and light to moderate reduction in flavor caused by reaction of molecular S with remaining O2 dissolved in wine that occurs after bottling, and can be ameliorated by lowering dissolved 02 in wine to under 1 ppm before bottling, not adding large amounts of SO2 immediately prior to bottling, and not filtering. It's generally observed between 10 and 30 days after bottling. Effects not fully understood as perception is mainly subjective; it allegedly affects Pinot Noir more than other wines.
I went to Berkeley, not Davis. Somebody check with a 'real' winemaker!
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