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
Pages (from-to)27-40
Number of pages14
JournalEconomic Papers
Volume38
Issue number1
Early online date05 Feb 2019
DOIs
Publication statusPublished - 01 Mar 2019

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