The role of customer and expert ratings in a hedonic analysis of French red wine prices: from gurus to geeks?
Language
EN
Article de revue
This item was published in
Applied Economics. 2023-09-14p. 1-17
English Abstract
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 ...Read more >
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.Read less <
English Keywords
Hedonic analysis
Wine experts
Peer rating
wine prices
Quality evaluation