The role of customer and expert ratings in a hedonic analysis of French red wine prices: from gurus to geeks?

Stephen Bazen, Jean-Marie Cardebat and Magalie Dubois

Applied Economics, 2024, vol. 56, issue 46, 5513-5529

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 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.

Date: 2024
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Working Paper: The role of customer and expert ratings in a hedonic analysis of French red wine prices: from gurus to geeks? (2024)
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DOI: 10.1080/00036846.2023.2257036

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