The dynamics of online word-of-mouth and product sales empirical

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1、JournalofRetailing84(2,2008)233242Thedynamicsofonlineword-of-mouthandproductsalesAnempiricalinvestigationofthemovieindustryWenjingDuana,∗,BinGub,1,AndrewB.Whinstonb,2aFunger515,SchoolofBusiness,TheGeorgeWashingtonUniversity,Washington,DC20052,UnitedStatesbCBA5.202,M

2、cCombsSchoolofBusiness,TheUniversityofTexasatAustin,Austin,TX78712,UnitedStatesAbstractTherearegrowinginterestsinunderstandinghowword-of-mouth(WOM)ontheInternetisgeneratedandhowitinfluencesconsumerspurchasedecisionsatretailoutlets.AuniqueaspectoftheWOMeffectisthepres

3、enceofapositivefeedbackmechanismbetweenWOMandretailsales.Wecharacterizetheprocessthroughadynamicsimultaneousequationsystem,inwhichweseparatetheeffectofonlineWOMasbothaprecursortoandanoutcomeofretailsales.Weapplyourapproachtothemovieindustry,showingthatbothamoviesbox

4、officerevenueandWOMvalencesignificantlyinfluenceWOMvolume.WOMvolumeinturnleadstohigherboxofficeperformance.ThispositivefeedbackmechanismhighlightstheimportanceofWOMingeneratingandsustainingretailrevenue.©2008NewYorkUniversity.PublishedbyElsevierInc.Allrightsreserved.Key

5、words:Onlineuserreviews;Word-of-mouth;E-commerce;Motionpicture;SimultaneousequationsIntroductionofinformationtoconsumers,thusreducingretailersabilitytoinfluencetheseconsumersthroughtraditionalmarketingandWord-of-mouth(WOM)hasbeenrecognizedasoneoftheadvertisingchannel

6、s.PriorstudiesshowthatavarietyofaspectsmostinfluentialresourcesofinformationtransmissionsincetheofWOMinfluenceretailsales.SomefoundthatWOMdis-beginningofhumansociety(GodesandMayzlin2004;Maxhampersion(GodesandMayzlin2004)andvalence(ChevalierandandNetemeyer2002;Reynolds

7、andBeatty1999).However,Mayzlin2006;Forman,Ghose,andWiesenfeld2008)havesig-conventionalinterpersonalWOMcommunicationisonlyeffec-nificanteffectsonproductsales,whileothersfoundthatWOMtivewithinlimitedsocialcontactboundaries,andtheinfluencevolumeservesasthekeydriverofprod

8、uctsales(Chen,Wu,diminishesquicklyovertimeanddistance(BhatnagarandGhoseandYoon2004;Liu2006).Ontheotherhand,onlineWOM2004;EllisonandFudenbe