IDEAS home Printed from https://ideas.repec.org/a/kap/jculte/v27y2003i2p127-141.html
   My bibliography  Save this article

Expert Opinion and Gastronomy: The Recipe for Success

Author

Listed:
  • Véronique Chossat
  • Olivier Gergaud

Abstract

Experts' opinions play an important role in the gastronomic market for the following reasons: information is imperfect and very costly to acquire and quality is, in large part, subjective and consumers need experts to define it. The number of guidebooks currently issued, their success (Michelin: 650,000 sold; GaultMillau: 200,000 sold) and the strong level of correlation generally obtained between prices and ratings or rankings (0.63 on average) for this class of activity illustrate this influence. Without experts, supply and demand would find it difficult to meet.Therefore, identifying the determinants of these evaluations of quality and then estimating their respective impact become relevant. According to the experts, the art of cooking is the only determinant that they take into account when selecting and then evaluating the chefs. For the chefs, the setting also appears to be a determinant and not the least important one.What is the best strategy to become a ``first rate'' chef? Would Alain Ducasse, one of the most famous French chefs, get the same rating in a roadside café as in a luxury restaurant? To answer these questions, a quality equation is estimated using an original database concerning 185 leading French chefs who have been selected in one of the most famous French guidebooks: GaultMillau (2000 edition). The results show that there are two strategies to become a ``first rate'' chef but that the art of cooking prevails over setting. This is in line with the observation that some gourmet restaurants tend to over-invest in luxurious surroundings. Copyright Kluwer Academic Publishers 2003

Suggested Citation

  • Véronique Chossat & Olivier Gergaud, 2003. "Expert Opinion and Gastronomy: The Recipe for Success," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(2), pages 127-141, May.
  • Handle: RePEc:kap:jculte:v:27:y:2003:i:2:p:127-141 DOI: 10.1023/A:1023432502059
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1023/A:1023432502059
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Robert E. Kuenne (ed.), 1990. "Microeconomics," Books, Edward Elgar Publishing, volume 0, number 564, September.
    2. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
    3. Jason Potts & Stuart Cunningham, 2010. "Four models of the creative industries," Revue d'économie politique, Dalloz, vol. 120(1), pages 163-180.
    4. Alan Kirman, 1993. "Ants, Rationality, and Recruitment," The Quarterly Journal of Economics, Oxford University Press, vol. 108(1), pages 137-156.
    5. Vega-Redondo,Fernando, 2007. "Complex Social Networks," Cambridge Books, Cambridge University Press, number 9780521857406, December.
    6. Ormerod, Paul & Roach, Andrew P, 2004. "The Medieval inquisition: scale-free networks and the suppression of heresy," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 339(3), pages 645-652.
    7. Nelson, Richard R. & Sampat, Bhaven N., 2001. "Making sense of institutions as a factor shaping economic performance," Journal of Economic Behavior & Organization, Elsevier, vol. 44(1), pages 31-54, January.
    8. Vega-Redondo,Fernando, 2007. "Complex Social Networks," Cambridge Books, Cambridge University Press, number 9780521674096, December.
    9. De Vany, Arthur & Walls, W David, 1996. "Bose-Einstein Dynamics and Adaptive Contracting in the Motion Picture Industry," Economic Journal, Royal Economic Society, vol. 106(439), pages 1493-1514, November.
    10. Jason Potts, 2009. "Why creative industries matter to economic evolution," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 18(7), pages 663-673.
    11. Duso, Tomaso & Gugler, Klaus & Yurtoglu, Burcin B., 2011. "How effective is European merger control?," European Economic Review, Elsevier, pages 980-1006.
    12. Richard Swedberg, 2006. "The cultural entrepreneur and the creative industries: beginning in Vienna," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, pages 243-261.
    13. Peter E. Earl & Jason Potts, 2004. "The market for preferences," Cambridge Journal of Economics, Oxford University Press, vol. 28(4), pages 619-633, July.
    14. Shy,Oz, 2001. "The Economics of Network Industries," Cambridge Books, Cambridge University Press, number 9780521805001, November.
    15. Alex Bentley & Paul Ormerod, 2009. "Tradition And Fashion In Consumer Choice: Bagging The Scottish Munros," Scottish Journal of Political Economy, Scottish Economic Society, vol. 56(3), pages 371-381, July.
    16. Hanusch,Horst (ed.), 2008. "Evolutionary Economics," Cambridge Books, Cambridge University Press, number 9780521067072, December.
    17. Jonathan Beck, 2007. "The sales effect of word of mouth: a model for creative goods and estimates for novels," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, pages 5-23.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ali, Héla Hadj & Lecocq, Sébastien & Visser, Michael, 2010. "The Impact of Gurus: Parker Grades and en primeur Wine Prices," Journal of Wine Economics, Cambridge University Press, vol. 5(01), pages 22-39, March.
    2. Francesco Angelini & Massimiliano Castellani, 2017. "Cultural and economic value: A (p)review," Working Paper series 17-10, Rimini Centre for Economic Analysis, revised Jan 2018.
    3. Chong Choi & Ron Berger, 2009. "Ethics of Global Internet, Community and Fame Addiction," Journal of Business Ethics, Springer, pages 193-200.
    4. Azuela Flores José Ignacio & Fernandez Blanco Víctor & Sanzo Pérez María José, 2012. "The effects of critics reviews on movie demand," Contaduría y Administración, Accounting and Management, vol. 57(2), pages 201-222, abril-jun.
    5. Nicolas Gérard Vaillant & François-charles Wolff, 2012. "Do consumers learn from tasting scores set by experts?," Economics Bulletin, AccessEcon, vol. 32(2), pages 1378-1384.
    6. Nicolas G. Vaillant & Francois-Charles Wolff, 2011. "Understanding how experts rate cigars," Post-Print hal-00732116, HAL.
    7. repec:eee:touman:v:55:y:2016:i:c:p:15-24 is not listed on IDEAS
    8. Dakshina De Silva & Caroline Elliott & Robert Simmons, 2013. "Restaurant wars," Working Papers 44312700, Lancaster University Management School, Economics Department.
    9. Fogarty, James Joseph, 2010. "Expert opinion and cuisine reputation in the market for restaurant meals," 2010 Conference (54th), February 10-12, 2010, Adelaide, Australia 59078, Australian Agricultural and Resource Economics Society.
    10. Gergaud, Olivier & Smeets, Valérie & Warzynski, Frédéric, 2010. "Stars War in French Gastronomy: Prestige of Restaurants and Chefs’ Careers," Working Papers 10-2, University of Aarhus, Aarhus School of Business, Department of Economics.
    11. Erwin Dekker, 2015. "Two approaches to study the value of art and culture, and the emergence of a third," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, pages 309-326.
    12. Florine Livat & Nicolas Vaillant, 2006. "Expert opinion and brand reputation: an analysis from a French Cuban cigars guidebook," Applied Economics Letters, Taylor & Francis Journals, vol. 13(2), pages 97-100.

    More about this item

    Keywords

    expert opinion; gastronomy; quality;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jculte:v:27:y:2003:i:2:p:127-141. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.springer.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.