This paper assesses the relative impact community consumer ratings and expert ratings have on Australian wine prices. Results suggest community ratings may better explain price variations than expert scores; however, the performance difference is not definitive. Expert scores are found to have some additional unique power beyond community ratings in explaining prices. These results hold for both models based on current quality and reputation ratings and a number of robustness checks. The results suggest that producers may need to monitor both expert and community assessments of wines based on numerous vintages to accurately assess wine prices.

No abstract

No abstract

This article considers the pricing and accounting conventions of government‐controlled water entities in the state of Victoria, Australia. These conventions are guided by principles of cost‐reflective pricing, public sector accountability and comparability of private and public sector performance. We observe how Victorian water entity prices and their reported performance are shaped by government accounting policy discretion, and the result of various compromises between economic and political considerations. By bringing these issues to light, we hope to keep political decision‐making about water infrastructure and water pricing in check.

No abstract