评级与价格：质量信号的动态关系

IF 1.6 4区经济学 Q2 AGRICULTURAL ECONOMICS & POLICY

Journal of Wine Economics Pub Date : 2023-08-08 DOI:10.1017/jwe.2023.14

Daniel Kaimann, Clarissa Laura Maria Spiess Bru, B. Frick

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引用次数: 1

摘要

在体验商品市场，产品评级的影响是显著的，其无形产品在消费前很难评估。产品评级可以减少信息不对称，因为它们代表了可靠的质量信号，从而对产品销售产生积极影响。在这项研究中，我们通过关注产品特征和以前的评论对评级行为和市场价格的影响，揭示了专业评论家的行为，作为葡萄酒市场中额外的质量信号。利用专业品酒师的13911项观察结果，我们分析了8444种全球生产的葡萄酒及其20年来的评级。我们发现有明确的证据表明，价格和产品评级有显著的相关性。最后，研究结果表明，审查的一致性在演变，并决定了当前的评级。

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Ratings meet prices: The dynamic relationship of quality signals

The impact of product ratings is significant in the experience goods market, whose intangible products are difficult to evaluate before consumption. Product ratings can reduce information asymmetries because they represent a credible signal of quality and thus positively affect product sales. In this study, we shed light on how professional critics behave by focusing on the influence of product characteristics and former reviews on rating behavior and market prices as additional quality signals in wine markets. Using 13,911 observations from professional wine tastings, we analyze 8,444 worldwide-produced wines and their ratings over 20 years. We find clear evidence to suggest that prices and product ratings are significantly related. Finally, the results suggest that review consistency evolves and determines current ratings.

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来源期刊

Journal of Wine Economics Agricultural and Biological Sciences-Food Science

CiteScore

3.20

自引率

28.60%

发文量

期刊介绍： The Journal of Wine Economics (JWE), launched in 2006, provides a focused outlet for high-quality, peer-reviewed research on economic topics related to wine. Although wine economics papers have been, and will continue to be, published in leading general and agricultural economics journals, the number of high-quality papers has grown to such an extent that a specialized journal can provide a useful platform for the exchange of ideas and results. The JWE is open to any area related to the economic aspects of wine, viticulture, and oenology. It covers a wide array of topics, including, but not limited to: production, winery activities, marketing, consumption, as well as macroeconomic and legal topics. The JWE has been published twice a year and contains main papers, short papers, notes and comments, reviews of books, films and wine events, as well as conference announcements. From 2013 on, the JWE has been published three times per year. The Journal of Wine Economics is fully owned by the American Association of Wine Economists (AAWE) and, since 2012, has been published by Cambridge University Press.