The role of customer and expert ratings in a hedonic analysis of French red wine prices: from gurus to geeks?
Résumé
Wine experts’ ratings provide quality information and reduce the information asymmetry for the consumer. We hypothesize that consumers’ ratings will come to dominate expert ratings in the wine expertise market. We employ a hedonic regression framework on the attributes of 36,970 French red wines to determine the relative impacts of expert and Vivino community ratings on wine prices. Average consumer ratings are found to have a larger effect on price than expert scores. These results are found to be robust to outliers and the general conclusion that peers matter more than experts holds when we exclude the top-end wines.
Domaines
Economies et financesFormat du dépôt | Fichier |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
The role of customer and expert ratings in a hedonic analysis of French red wine prices: from gurus to geeks?
|
Résumé |
en
Wine experts’ ratings provide quality information and reduce the information asymmetry for the consumer. We hypothesize that consumers’ ratings will come to dominate expert ratings in the wine expertise market. We employ a hedonic regression framework on the attributes of 36,970 French red wines to determine the relative impacts of expert and Vivino community ratings on wine prices. Average consumer ratings are found to have a larger effect on price than expert scores. These results are found to be robust to outliers and the general conclusion that peers matter more than experts holds when we exclude the top-end wines.
|
Auteur(s) |
Stephen Bazen
1, 2
, Jean-Marie Cardebat
3, 4
, Magalie Dubois
3, 5
1
AMSE -
Aix-Marseille Sciences Economiques
( 526949 )
- 5-9 Boulevard Bourdet
CS 50498
13205 Marseille Cedex 1
- France
2
AMU -
Aix Marseille Université
( 198056 )
- Aix-Marseille Université
Jardins du Pharo
58 Boulevard Charles Livon
13284 Marseille cedex 7
- France
3
BSE -
Bordeaux Sciences Economiques
( 1084540 )
- Maison de l’Economie, Avenue Léon Duguit 33608 Pessac Cedex
- France
4
INSEEC -
Institut des hautes études économiques et commerciales | School of Business and Economics
( 458547 )
- France
5
CEREN -
Centre de Recherche sur l'ENtreprise [Dijon]
( 487918 )
- 29 rue Sambin
21000 Dijon
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Date de publication |
2023-09-14
|
Page/Identifiant |
1-17
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Domaine(s) |
|
Mots-clés (JEL) |
|
Mots-clés |
en
Hedonic analysis, Wine experts, Peer rating, wine prices, Quality evaluation
|
DOI | 10.1080/00036846.2023.2257036 |
Fichier sous embargo
Fichier sous embargo
0 | ― | 4 | ― | 17 |
Année | Mois | Jours |
Fin d'embargo le samedi 14 septembre 2024
Loading...