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Isolating the Symbolic Implications of Employee Mobility: Price Increases after Hiring Winemakers from Prominent Wineries

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  • Peter W. Roberts
  • Mukti Khaire
  • Christopher I. Rider

Abstract

Because wines are aged for several years before they are released, newly hired winemakers arrive as wines made by their predecessors enter the market. An analysis of winemaker hiring events reveals that wines released right after a new winemaker's arrival from a prominent competitor are priced significantly higher than corresponding wines released in the preceding year. However, the wines released before and after the hiring event are indistinguishable in terms of quality. These findings isolate a "purely symbolic" effect of employee mobility, which affirm sociological accounts of markets--under conditions of uncertainty, inter-organizational affiliations condition producers' returns to quality demonstrations.

Suggested Citation

  • Peter W. Roberts & Mukti Khaire & Christopher I. Rider, 2011. "Isolating the Symbolic Implications of Employee Mobility: Price Increases after Hiring Winemakers from Prominent Wineries," American Economic Review, American Economic Association, vol. 101(3), pages 147-151, May.
    • Handle: RePEc:aea:aecrev:v:101:y:2011:i:3:p:147-51
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.3.147
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    References listed on IDEAS

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    1. Peter W. Roberts & Mukti Khaire, 2009. "Getting known by the company you keep: publicizing the qualifications and former associations of skilled employees," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 18(1), pages 77-106, February.
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    Cited by:

    1. Pierre Azoulay & Toby Stuart & Yanbo Wang, 2014. "Matthew: Effect or Fable?," Management Science, INFORMS, vol. 60(1), pages 92-109, January.
    2. Croidieu, Grégoire & Rüling, Charles-Clemens & Boutinot, Amélie, 2016. "How do creative genres emerge? The case of the Australian wine industry," Journal of Business Research, Elsevier, vol. 69(7), pages 2334-2342.
    3. Pierre Azoulay & Toby Stuart & Yanbo Wang, 2012. "Matthew: Effect or Fable?," NBER Working Papers 18625, National Bureau of Economic Research, Inc.
    4. Christopher I. Rider & David Tan, 2015. "Labor Market Advantages of Organizational Status: A Study of Lateral Partner Hiring by Large U.S. Law Firms," Organization Science, INFORMS, vol. 26(2), pages 356-372, April.
    5. Matteo Prato & Fabrizio Ferraro, 2018. "Starstruck: How Hiring High-Status Employees Affects Incumbents’ Performance," Organization Science, INFORMS, vol. 29(5), pages 755-774, October.
    6. Giacomo Negro & Ming D. Leung, 2013. "“Actual” and Perceptual Effects of Category Spanning," Organization Science, INFORMS, vol. 24(3), pages 684-696, June.

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