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American Economic Journal: Applied Economics: Vol. 4 No. 1 (January 2012)

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Do Expert Reviews Affect the Demand for Wine?

Article Citation

Friberg, Richard, and Erik Grönqvist. 2012. "Do Expert Reviews Affect the Demand for Wine?" American Economic Journal: Applied Economics, 4(1): 193-211.

DOI: 10.1257/app.4.1.193

Abstract

We examine the demand for wines in Sweden using five years of weekly data on sales, advertising, and expert reviews. The effect of a favorable review peaks in the week after publication with an increase in demand of 6 percent, and the effect remains significant for more than 20 weeks. We find small demand-enhancing effects of neutral reviews and no evidence of important negative effects from unfavorable reviews. Restrictions on the state-owned monopoly retailer and the exogenous timing of a subset of the reviews support a causal interpretation of the effects of reviews on demand. (JEL D12, L66, L81, M31, M37)

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Authors

Friberg, Richard (Stockholm School of Economics)
Grönqvist, Erik (Institute for Labor Market Policy Evaluation, Uppsala U)

JEL Classifications

D12: Consumer Economics: Empirical Analysis
L66: Food; Beverages; Cosmetics; Tobacco; Wine and Spirits
L81: Retail and Wholesale Trade; e-Commerce
M31: Marketing
M37: Advertising

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