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Anonymous Social Networks versus Peer Networks in Restaurant Choice

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  • Tiwari, Ashutosh
  • Richards, Timothy J.
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    Abstract

    We compare the effect of anonymous social network ratings (Yelp.com) and peer group recommendations on restaurant demand. We conduct a two stage choice experiment and combine it with online social network reviews from Yelp.com and find that peers have a stronger impact on restaurant demand than anonymous reviewers.

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    File URL: http://purl.umn.edu/150467
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    Bibliographic Info

    Paper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 150467.

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    Date of creation: 31 May 2013
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    Handle: RePEc:ags:aaea13:150467

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    Related research

    Keywords: Peer Networks; Anonymous Networks; Economic Experiment; Social Dining; Community/Rural/Urban Development; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics;

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    1. Esther Duflo & Emmanuel Saez, 2002. "The Role of Information and Social Interactions in Retirement Plan Decisions: Evidence from a Randomized Experiment," NBER Working Papers 8885, National Bureau of Economic Research, Inc.
    2. Bramoullé, Yann & Djebbari, Habiba & Fortin, Bernard, 2007. "Identification of Peer Effects through Social Networks," IZA Discussion Papers 2652, Institute for the Study of Labor (IZA).
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    7. Esther Duflo & Emmanuel Saez, 2000. "Participation and Investment Decisions in a Retirement Plan: The Influence of Colleagues' Choices," NBER Working Papers 7735, National Bureau of Economic Research, Inc.
    8. David Godes & Dina Mayzlin, 2009. "Firm-Created Word-of-Mouth Communication: Evidence from a Field Test," Marketing Science, INFORMS, vol. 28(4), pages 721-739, 07-08.
    9. Richards, Timothy J. & Patterson, Paul M., 1999. "The Economic Value Of Public Relations Expenditures: Food Safety And The Strawberry Case," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(02), December.
    10. Brown, Jacqueline Johnson & Reingen, Peter H, 1987. " Social Ties and Word-of-Mouth Referral Behavior," Journal of Consumer Research, University of Chicago Press, vol. 14(3), pages 350-62, December.
    11. Gary S. Becker, 1991. "A Note on Restaurant Pricing and Other Examples of Social Influences on Price," University of Chicago - George G. Stigler Center for Study of Economy and State 67, Chicago - Center for Study of Economy and State.
    12. Brock,W.A. & Durlauf,S.N., 2004. "Identification of binary choice models with social interactions," Working papers 2, Wisconsin Madison - Social Systems.
    13. Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August.
    14. Sungjoon Nam & Puneet Manchanda & Pradeep K. Chintagunta, 2010. "The Effect of Signal Quality and Contiguous Word of Mouth on Customer Acquisition for a Video-on-Demand Service," Marketing Science, INFORMS, vol. 29(4), pages 690-700, 07-08.
    15. De Giorgi, Giacomo & Pellizzari, Michele & Redaelli, Silvia, 2007. "Be as Careful of the Books You Read as of the Company You Keep: Evidence on Peer Effects in Educational Choices," IZA Discussion Papers 2833, Institute for the Study of Labor (IZA).
    16. Michael Anderson & Jeremy Magruder, 2012. "Learning from the Crowd: Regression Discontinuity Estimates of the Effects of an Online Review Database," Economic Journal, Royal Economic Society, vol. 122(563), pages 957-989, 09.
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