By Carly Shin, The George Washington University.
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This paper investigates the relationship between expert ratings and the restaurant market. Specifically, this paper aims to broaden our understanding of the experience goods markets by looking at the effects of both having an expert-awarded Michelin star and earning or losing a Michelin star on New York City restaurant prices. Continue reading BLOG: Expert Opinion and Restaurant Pricing: Quantifying the Value of a Michelin Star