Work

Tasting and consumer demand for wine: do peers and experts matter?

Year: 2023

Type: article

Abstract: Expert and peer reviews and popularity are freely available both on the Internet and in printed materials for a variety of food products. Using two experimental studies with non-hypothetical tastings and auctions, we explore the impact of peer tasting popularity, actual peer ratings, and expert ratings on demand for wines consumers can or have tasted. We find that higher own wine ratings are associated with higher willingness to pay (WTP). Morevoer, higher peer and expert rating scores increase consumer WTP for wine even after controlling for the impact of consumers’ own ratings. Observed peer popularity also increases WTP for preferred wines.

Source: Agricultural and Resource Economics Review

DOI: 10.1017/age.2023.11

Authors: Nadeeka Weerasekara, Nadia A. Streletskaya

Institution: Oregon State University

Language: English

Topic: Wine Industry and Tourism

Subfield: Tourism, Leisure and Hospitality Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $1,625

Funder: University of Cambridge