Community and Expert Wine Ratings and Prices

Research output: Contribution to journalArticle

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.

Original languageEnglish
JournalEconomic Papers
DOIs
Publication statusPublished - 01 Jan 2019

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Wine
Rating
Community rating
Robustness

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title = "Community and Expert Wine Ratings and Prices",
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.",
keywords = "community quality ratings, wine experts, wine prices",
author = "Edward Oczkowski and Nicholas Pawsey",
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Community and Expert Wine Ratings and Prices. / Oczkowski, Edward; Pawsey, Nicholas.

In: Economic Papers, 01.01.2019.

Research output: Contribution to journalArticle

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