Resumen de Word-of-mouth and the forecasting of consumption enjoyment

Stephen X. He, Samuel D. Bond

• The digital era has permitted rapid transfer of peer knowledge regarding products and services. In the present research, we explore the value of specific types of word-of-mouth information (numeric ratings and text commentary) for improving forecasts of consumption enjoyment. We present an anchoring-and-adjustment model in which the relative forecasting error associated with ratings and commentary depends on the extent to which consumer and reviewer have similar product-level preferences. To test our model, we present four experiments using a range of hedonic stimuli. Implications for the provision of consumer WOM are discussed.