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

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  • Stephen Bazen
  • Jean-Marie Cardebat
  • Magalie Dubois

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.

Suggested Citation

  • Stephen Bazen & Jean-Marie Cardebat & Magalie Dubois, 2024. "The role of customer and expert ratings in a hedonic analysis of French red wine prices: from gurus to geeks?," Applied Economics, Taylor & Francis Journals, vol. 56(46), pages 5513-5529, October.
    • Handle: RePEc:taf:applec:v:56:y:2024:i:46:p:5513-5529
    DOI: 10.1080/00036846.2023.2257036
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