Tasting and consumer demand for wine: do peers and experts matter?
Expert and peer reviews and popularity are freely available both on the Internet and in printed materials for a variety of food products. Using two experimental studies with non-hypothetical tastings and auctions, we explore the impact of peer tasting popularity, actual peer ratings, and expert rati...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
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| Series: | Agricultural and Resource Economics Review |
| Subjects: | |
| Online Access: | https://www.cambridge.org/core/product/identifier/S1068280523000114/type/journal_article |
| _version_ | 1797660577191952384 |
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| author | Nadeeka Weerasekara Nadia A. Streletskaya |
| author_facet | Nadeeka Weerasekara Nadia A. Streletskaya |
| author_sort | Nadeeka Weerasekara |
| collection | DOAJ |
| description | Expert and peer reviews and popularity are freely available both on the Internet and in printed materials for a variety of food products. Using two experimental studies with non-hypothetical tastings and auctions, we explore the impact of peer tasting popularity, actual peer ratings, and expert ratings on demand for wines consumers can or have tasted. We find that higher own wine ratings are associated with higher willingness to pay (WTP). Morevoer, higher peer and expert rating scores increase consumer WTP for wine even after controlling for the impact of consumers’ own ratings. Observed peer popularity also increases WTP for preferred wines. |
| first_indexed | 2024-03-11T18:32:53Z |
| format | Article |
| id | doaj.art-62e882dec41642d692361983a7f315fe |
| institution | Directory Open Access Journal |
| issn | 1068-2805 2372-2614 |
| language | English |
| last_indexed | 2024-03-11T18:32:53Z |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Agricultural and Resource Economics Review |
| spelling | doaj.art-62e882dec41642d692361983a7f315fe2023-10-13T09:34:51ZengCambridge University PressAgricultural and Resource Economics Review1068-28052372-261412110.1017/age.2023.11Tasting and consumer demand for wine: do peers and experts matter?Nadeeka Weerasekara0Nadia A. Streletskaya1https://orcid.org/0000-0001-7306-8426Applied Economics Department, Oregon State University, Corvallis, OR, USAApplied Economics Department, Oregon State University, Corvallis, OR, USAExpert and peer reviews and popularity are freely available both on the Internet and in printed materials for a variety of food products. Using two experimental studies with non-hypothetical tastings and auctions, we explore the impact of peer tasting popularity, actual peer ratings, and expert ratings on demand for wines consumers can or have tasted. We find that higher own wine ratings are associated with higher willingness to pay (WTP). Morevoer, higher peer and expert rating scores increase consumer WTP for wine even after controlling for the impact of consumers’ own ratings. Observed peer popularity also increases WTP for preferred wines.https://www.cambridge.org/core/product/identifier/S1068280523000114/type/journal_articleconsumer demandexpert ratingspeer effectsrankingtastingsD12D91Q13 |
| spellingShingle | Nadeeka Weerasekara Nadia A. Streletskaya Tasting and consumer demand for wine: do peers and experts matter? Agricultural and Resource Economics Review consumer demand expert ratings peer effects ranking tastings D12 D91 Q13 |
| title | Tasting and consumer demand for wine: do peers and experts matter? |
| title_full | Tasting and consumer demand for wine: do peers and experts matter? |
| title_fullStr | Tasting and consumer demand for wine: do peers and experts matter? |
| title_full_unstemmed | Tasting and consumer demand for wine: do peers and experts matter? |
| title_short | Tasting and consumer demand for wine: do peers and experts matter? |
| title_sort | tasting and consumer demand for wine do peers and experts matter |
| topic | consumer demand expert ratings peer effects ranking tastings D12 D91 Q13 |
| url | https://www.cambridge.org/core/product/identifier/S1068280523000114/type/journal_article |
| work_keys_str_mv | AT nadeekaweerasekara tastingandconsumerdemandforwinedopeersandexpertsmatter AT nadiaastreletskaya tastingandconsumerdemandforwinedopeersandexpertsmatter |