Quality Expectations, Reputation, and Price
Quality Expectations, Reputation, and Price
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DOI：
10.2307/1060783
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发表时间：
1998
影响因子：
1.9
通讯作者：
Stuart Landon;Constance E. Smith
中科院分区：
文献类型：
--
作者：
Stuart Landon;Constance E. Smith
当前产品质量和声誉对价格的影响是使用波尔多葡萄酒市场的数据来估计的。提出了一个模型，其中价格是当前质量和预期质量的函数，后者取决于声誉。确定价格和预期质量的方程是联合估计的。实证研究结果表明，价格溢价与更好的个人和集体（或团体）的声誉远远超过与当前质量的改善。此外，市场价值的集体声誉指标，只有在一定程度上，他们是有用的预测产品质量。
The impact on price of current product quality and reputation are estimated using data from the market for Bordeaux wine. A model is proposed in which price is a function of current quality and expected quality, where the latter depends on reputation. Equations determining price and expected quality are estimated jointly. The empirical findings show that the price premium associated with better individual and collective (or group) reputation far exceeds that associated with improvements in current quality. As well, the market values collective reputation indicators only to the extent that they are useful predictors of product quality.