Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices
Abstract This study fills a void in the literature by providing the first evaluation of the impact of consumer ratings on beer prices using hedonic methods. Our work is based on a dataset consisting of over 400 beers and includes information on calorie content, alcohol content, user rating, and styl...
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SpringerOpen
2016-11-01
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| Series: | Agricultural and Food Economics |
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| Online Access: | http://link.springer.com/article/10.1186/s40100-016-0068-3 |
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doaj-75a16f0ac49d46249297d2f94302b0ca2020-11-24T22:22:25ZengSpringerOpenAgricultural and Food Economics2193-75322016-11-014111010.1186/s40100-016-0068-3Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer pricesRachel A. Smith0C. Nicholas McKinney1Steven B. Caudill2Franklin G. Mixon3Department of Mathematics and Statistics, University of San FranciscoDepartment of Economics, Rhodes CollegeDepartment of Economics, Florida Atlantic UniversityCenter for Economic Education, Columbus State UniversityAbstract This study fills a void in the literature by providing the first evaluation of the impact of consumer ratings on beer prices using hedonic methods. Our work is based on a dataset consisting of over 400 beers and includes information on calorie content, alcohol content, user rating, and style for each beer. Our results indicate that a 10-point increase in consumer rating is associated with about a $0.50 increase in the price of beer per unit.http://link.springer.com/article/10.1186/s40100-016-0068-3Experience goodsHedonic analysisBeer pricesConsumer ratingsAsymmetric information |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Rachel A. Smith C. Nicholas McKinney Steven B. Caudill Franklin G. Mixon |
| spellingShingle |
Rachel A. Smith C. Nicholas McKinney Steven B. Caudill Franklin G. Mixon Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices Agricultural and Food Economics Experience goods Hedonic analysis Beer prices Consumer ratings Asymmetric information |
| author_facet |
Rachel A. Smith C. Nicholas McKinney Steven B. Caudill Franklin G. Mixon |
| author_sort |
Rachel A. Smith |
| title |
Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices |
| title_short |
Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices |
| title_full |
Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices |
| title_fullStr |
Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices |
| title_full_unstemmed |
Consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices |
| title_sort |
consumer ratings and the pricing of experience goods: hedonic regression analysis of beer prices |
| publisher |
SpringerOpen |
| series |
Agricultural and Food Economics |
| issn |
2193-7532 |
| publishDate |
2016-11-01 |
| description |
Abstract This study fills a void in the literature by providing the first evaluation of the impact of consumer ratings on beer prices using hedonic methods. Our work is based on a dataset consisting of over 400 beers and includes information on calorie content, alcohol content, user rating, and style for each beer. Our results indicate that a 10-point increase in consumer rating is associated with about a $0.50 increase in the price of beer per unit. |
| topic |
Experience goods Hedonic analysis Beer prices Consumer ratings Asymmetric information |
| url |
http://link.springer.com/article/10.1186/s40100-016-0068-3 |
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AT rachelasmith consumerratingsandthepricingofexperiencegoodshedonicregressionanalysisofbeerprices AT cnicholasmckinney consumerratingsandthepricingofexperiencegoodshedonicregressionanalysisofbeerprices AT stevenbcaudill consumerratingsandthepricingofexperiencegoodshedonicregressionanalysisofbeerprices AT franklingmixon consumerratingsandthepricingofexperiencegoodshedonicregressionanalysisofbeerprices |
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