Gergaud, Olivier; Storchmann, Karl; Verardi, Vincenzo - 2012
influenced by newly appearing expert opinion. As the leading restaurant guide Zagat has rated New York City’s restaurants since …, Michelin-reviewed restaurant enjoy substantial returns only to service and décor improvement. Our results suggest that expert … opinion on the New York City restaurant market exerts a negative externality on gourmets by given restaurants incentive to …