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Evidence suggests that consumers seek to become more expert about hedonic products to enhance their enjoyment of future consumption occasions. Current approaches to becoming expert center on cultivating an analytic mindset. In the present research the authors explore the benefit to enthusiasts...
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We investigate the relationship between external quality evaluation via experts, firm reputation and product prices and extend the existing empirical literature in three dimensions. First, we empirically account for endogenous reputation effects. An increase in quality has an immediate positive...
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conventional wines. Unlike the current literature on the determinants of wine prices, we used data on the production side in … for consumers affect wine prices. The second question was whether organic wine obtains a price premium relative to … conventional wine. Our results show that, along with characteristics that are of interest to consumers, like the appellation and …
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