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Community and Expert Wine Ratings and Prices

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  • Edward Oczkowski
  • Nicholas Pawsey

Abstract

This paper assesses the relative impact community consumer ratings and expert ratings have on Australian wine prices. Results suggest community ratings may better explain price variations than expert scores; however, the performance difference is not definitive. Expert scores are found to have some additional unique power beyond community ratings in explaining prices. These results hold for both models based on current quality and reputation ratings and a number of robustness checks. The results suggest that producers may need to monitor both expert and community assessments of wines based on numerous vintages to accurately assess wine prices.

Suggested Citation

  • Edward Oczkowski & Nicholas Pawsey, 2019. "Community and Expert Wine Ratings and Prices," Economic Papers, The Economic Society of Australia, vol. 38(1), pages 27-40, March.
    • Handle: RePEc:bla:econpa:v:38:y:2019:i:1:p:27-40
    DOI: 10.1111/1759-3441.12240
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    Cited by:

    1. Oczkowski, Edward, 2021. "Estimating supply functions for wine attributes: a two-stage hedonic approach," Working Papers 321856, American Association of Wine Economists.
    2. Bernd Frick & Clarissa Laura Maria Spiess Bru & Daniel Kaimann, 2023. "Are Women (Really) More Lenient? Gender Differences in Expert Evaluations," Working Papers Dissertations 106, Paderborn University, Faculty of Business Administration and Economics.
    3. Clarissa Laura Maria Spiess Bru, 2023. "Does the Tasting Note Matter? Language Categories and Their Impact on Professional Ratings and Prices," Working Papers Dissertations 105, Paderborn University, Faculty of Business Administration and Economics.

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