Identifying the Collective Reputation Premium: A Spatial Discontinuity Approach
利用意大利皮埃蒙特和托斯卡纳葡萄酒产区的空间断点方法，研究集体声誉对价格的影响，发现知名产区有显著溢价，而弱势产区效应不显著甚至为负。
ABSTRACT In this work we propose a spatial discontinuity approach around the borders of wine appellation areas in Piedmont and Tuscany to solve the identification issue when measuring the impact of collective reputation on price. Using a database of geolocalised firms we show that collective reputation carries a significant price premium for well known appellations, whereas the effect is not significant or even surprisingly negative for weaker ones. We propose some possible explanations for such negative effect. These include the excessive proliferation of appellations, the different effectiveness of wine names, as well as group heterogeneity and the role of consortia.