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THE INFLUENCE OF EXPERT REVIEWS ON CONSUMER DEMAND FOR EXPERIENCE GOODS: A CASE STUDY OF MOVIE CRITICS -super-*

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Author Info
David A. Reinstein
Christopher M. Snyder

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Abstract

An inherent problem in measuring the influence of expert reviews on the demand for experience goods is that a correlation between good reviews and high demand may be spurious, induced by an underlying correlation with unobservable quality signals. Using the timing of the reviews by two popular movie critics, Siskel and Ebert, relative to opening weekend box office revenue, we apply a difference-in-differences approach to circumvent the problem of spurious correlation. After purging the spurious correlation, the measured influence effect is smaller though still detectable. Positive reviews have a particularly large influence on the demand for dramas and narrowly-released movies. Copyright Blackwell Publishing Ltd. 2005.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.0022-1821.2005.00244.x
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Publisher Info
Article provided by Blackwell Publishing in its journal The Journal of Industrial Economics.

Volume (Year): 53 (2005)
Issue (Month): 1 (03)
Pages: 27-51
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Handle: RePEc:bla:jindec:v:53:y:2005:i:1:p:27-51

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821

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  1. Caroline Elliott & Rob Simmons, 2008. "Determinants of UK Box Office Success: The Impact of Quality Signals," Review of Industrial Organization, Springer, vol. 33(2), pages 93-111, September. [Downloadable!] (restricted)
    Other versions:
  2. Kristin Kiesel & Sofia Villas-Boas, 2008. "Another Nutritional Label--Experimenting with Grocery Store Shelf Labels and Consumer Choice--," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series 1060, Department of Agricultural & Resource Economics, UC Berkeley. [Downloadable!]
  3. Sorensen, Alan T., 2004. "Bestseller Lists and Product Variety: The Case of Book Sales," Research Papers 1878, Stanford University, Graduate School of Business. [Downloadable!]
  4. James Hilger & Greg Rafert & Sofia Villas-Boas, 2007. "Expert Opinion and the Demand for Experience Goods: An Experimental Approach," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series 1049, Department of Agricultural & Resource Economics, UC Berkeley. [Downloadable!]
  5. Gerda Gemser & Martine Oostrum & Mark Leenders, 2007. "The impact of film reviews on the box office performance of art house versus mainstream motion pictures," Journal of Cultural Economics, Springer, vol. 31(1), pages 43-63, March. [Downloadable!] (restricted)
  6. Etienne Bressoud & Jean-Marc Lehu, 2008. "Product placement in movies: questioning the effectiveness according to the spectator’s viewing conditions," Post-Print halshs-00303667_v2, HAL. [Downloadable!]
  7. Jonathan Reuter & Eric Zitzewitz, 2005. "Do Ads Influence Editors? Advertising and Bias in the Financial Media," Finance 0501003, EconWPA. [Downloadable!]
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  8. Egon Franck & Stephan Nüesch, 2005. "Talent, Past Consumption and/or Popularity - Are German Soccer Celebrities Rosen or Adler Stars?," Working Papers 0043, University of Zurich, Institute for Strategy and Business Economics (ISU), revised 2006. [Downloadable!]
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