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Greg Rafert
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Journal Articles
Publisher: Journals Gateway
The Review of Economics and Statistics (2011) 93 (4): 1289–1296.
Published: 01 November 2011
Abstract
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The effect of expert opinion on demand for experience goods is difficult to quantify, as the relationship between purchases and reviews may be driven by product quality. Further, it is unclear whether a review-based demand effect is due to providing quality or existence information. Using a retail field experiment to overcome these obstacles, we find a significant positive average consumer response to expert opinion labels for wine. Demand decreases for low-scoring wines and increases for wines scoring average or higher. Results indicate that expert opinion labels transmit quality information as opposed to solely shelf visibility.
Includes: Supplementary data