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Expert opinion and brand reputation: an analysis from a French Cuban cigars guidebook

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  • Florine Livat
  • Nicolas Vaillant

Abstract

The role of expert opinion and its ability to reflect true quality are discussed. If the expert is theoretically expected to make objective decisions, the empirical evidence does not enable clear answers to be established. Using data from the 32 Cuban brands commercialized in France in the years 2000 to 2003, we estimate experts' rating hedonic equations. Our results show that the quality of the cigar, measured with a note coded on a scale of 1 to 5, is independent of its price but is linked to its physical attributes. Moreover, these 'objective' characteristics play an increasing role over time. Finally, it appears that some brands are favourably considered.

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  • Florine Livat & Nicolas Vaillant, 2006. "Expert opinion and brand reputation: an analysis from a French Cuban cigars guidebook," Applied Economics Letters, Taylor & Francis Journals, vol. 13(2), pages 97-100.
    • Handle: RePEc:taf:apeclt:v:13:y:2006:i:2:p:97-100
    DOI: 10.1080/13504850500390564
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    References listed on IDEAS

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    2. Victor A. Ginsburgh & Jan C. van Ours, 2003. "Expert Opinion and Compensation: Evidence from a Musical Competition," American Economic Review, American Economic Association, vol. 93(1), pages 289-296, March.
    3. Freccia, David M. & Jacobsen, Joyce P. & Kilby, Peter, 2003. "Exploring the relationship between price and quality for the case of hand-rolled cigars," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(1), pages 169-189.
    4. Combris, Pierre & Lecocq, Sebastien & Visser, Michael, 1997. "Estimation for a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter?," Economic Journal, Royal Economic Society, vol. 107(441), pages 390-402, March.
    5. Véronique Chossat & Olivier Gergaud, 2003. "Expert Opinion and Gastronomy: The Recipe for Success," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(2), pages 127-141, May.
    6. Stuart Landon & Constance E. Smith, 1998. "Quality Expectations, Reputation, and Price," Southern Economic Journal, John Wiley & Sons, vol. 64(3), pages 628-647, January.
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    Cited by:

    1. Nicolas G鲡rd Vaillant & François-Charles Wolff, 2013. "Understanding how experts rate cigars: a ‘havanometric’ analysis," Applied Economics, Taylor & Francis Journals, vol. 45(1), pages 99-109, January.
    2. Nicolas Vaillant & Philippe Lesot & Quentin Bonnard & Valerie Harrant, 2010. "The use of expert opinion, quality and reputation indicators by consumers: evidence from the French vaulting stallion semen market," Applied Economics, Taylor & Francis Journals, vol. 42(6), pages 739-745.
    3. Hansen, Rebecca & Hess, Sebastian, 2023. "The Pricing Efficiency of German Wine Cooperatives: A Hedonic Metafrontier Approach," GEWISOLA 63rd Annual Conference, Goettingen, Germany, September 20-22, 2023 344240, GEWISOLA.

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