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Expert opinion and cuisine reputation in the market for restaurant meals

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  • Fogarty, James Joseph

Abstract

As food is an experience good, the market for restaurant meals is a market where the cost of acquiring information regarding quality is relatively high. In such markets consumers often turn to reputation measures to guide purchase decisions. As Australia does not have a longstanding cuisine style of its own, and given Australia has been open to substantial immigration inflows since federation, it represents an especially appropriate market to study regarding the impact of individual restaurant reputation and collective cuisine reputation on meal prices. The following study uses the hedonic price approach to investigate the implicit price of individual reputation indicators, cuisine type reputation indicators, and other objective indicators in the market for restaurant meals. The empirical findings presented suggest that both individual restaurant reputation and cuisine type reputation are important. Other important factors are shown to include the quality of the restaurant wine list, the availability of private dining rooms, and whether or not there is an outdoor dining option.

Suggested Citation

  • 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.
  • Handle: RePEc:ags:aare10:59078
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    File URL: http://purl.umn.edu/59078
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    References listed on IDEAS

    as
    1. VĂ©ronique 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.
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    More about this item

    Keywords

    Expert Opinion; Food; Hedonic Pricing; Research Methods/ Statistical Methods; D12; Q18; Z10;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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