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Consumer Reviews and Regulation : Evidence from NYC Restaurants
Farronato, Chiara; Zervas, Georgios - National Bureau of Economic Research - 2022
We investigate the informativeness of hygiene signals in online reviews, and their effect on consumer choice and restaurant hygiene. We first extract signals of hygiene from Yelp. Among all dimensions that regulators monitor through mandated restaurant inspections, we find that reviews are more...
Persistent link: https://www.econbiz.de/10012938684
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Digitization and Pre-Purchase Information : The Causal and Welfare Impacts of Reviews and Crowd Ratings
Reimers, Imke C. - 2020
Digitization has led to product proliferation, straining traditional institutions for product discovery; but digitization has also spawned crowd-based rating systems. We compare the relative impacts of professional critics and crowd-based Amazon star ratings on consumer welfare in book...
Persistent link: https://www.econbiz.de/10012479300
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The Effect of Word of Mouth on Sales : Online Book Reviews
Chevalier, Judith A. - 2003
We examine the effect of consumer reviews on relative sales of books on Amazon.com and BarnesandNoble.com. We find that 1) reviews are overwhelmingly positive at both sites, but there are more reviews and longer reviews at Amazon.com, 2) an improvement in a book's reviews leads to an increase in...
Persistent link: https://www.econbiz.de/10012468546
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Does High Frequency Social Media Data Improve Forecasts of Low Frequency Consumer Confidence Measures?
Lehrer, Steven F. - 2019
Social media data presents challenges for forecasters since one must convert text into data and deal with issues related to these measures being collected at different frequencies and volumes than traditional financial data. In this paper, we use a deep learning algorithm to measure sentiment...
Persistent link: https://www.econbiz.de/10012480449
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The Information Value of Online Social Networks : Lessons from Peer-to-Peer Lending
Freedman, Seth - 2014
We examine whether social networks facilitate online markets using data from a leading peer-to-peer lending website. We find that borrowers with social ties are consistently more likely to have their loans funded and receive lower interest rates; however, most borrowers with social ties are more...
Persistent link: https://www.econbiz.de/10012458844
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Some Simple Economics of Crowdfunding
Agrawal, Ajay K. - 2013
It is not surprising that the financing of early-stage creative projects and ventures is typically geographically localized since these types of funding decisions are usually predicated on personal relationships and due diligence requiring face-to-face interactions in response to high levels of...
Persistent link: https://www.econbiz.de/10012459529
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Quantifying Brand Loyalty : Evidence from the Cigarette Market
DeCicca, Philip; Kenkel, Donald Scott; Liu, Feng; … - National Bureau of Economic Research - 2021
Reservations. The regime change represents a unique opportunity to quantify brand loyalty because it almost doubled the price of … premium-brand cigarettes, while Native brands were still untaxed. We use data from two different sources--the New York State … three-quarters remained brand loyal …
Persistent link: https://www.econbiz.de/10012510568
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Deep Habits
Ravn, Morten - 2004
typically assumed ad-hoc in customer market and brand switching cost models. A central result of the paper is that deep habits …
Persistent link: https://www.econbiz.de/10012468432
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Millennials and the Take-Off of Craft Brands : Preference Formation in the U.S. Beer Industry
Bronnenberg, Bart J.; Dube, Jean-Pierre H.; Joo, Joonhwi - National Bureau of Economic Research - 2021
We conduct an empirical case study of the U.S. beer industry to analyze the disruptive effects of locally-manufactured, craft brands on market structure, an increasingly common phenomenon in CPG industries typically attributed to the emerging generation of adult Millennial consumers. We document...
Persistent link: https://www.econbiz.de/10012496172
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Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium
Bronnenberg, Bart J. - 2014
suggest that misinformation and related consumer mistakes explain a sizable share of the brand premium for health products …
Persistent link: https://www.econbiz.de/10012458372