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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)ontheInternetisgeneratedandhowitin?uencesconsumerspurchasedecisionsatretailoutlets.AuniqueaspectoftheWOMeffectisthepres
3、enceofapositivefeedbackmechanismbetweenWOMandretailsales.Wecharacterizetheprocessthroughadynamicsimultaneousequationsystem,inwhichweseparatetheeffectofonlineWOMasbothaprecursortoandanoutcomeofretailsales.Weapplyourapproachtothemovieindustry,showingthatbothamoviesbox
4、of?cerevenueandWOMvalencesigni?cantlyin?uenceWOMvolume.WOMvolumeinturnleadstohigherboxof?ceperformance.ThispositivefeedbackmechanismhighlightstheimportanceofWOMingeneratingandsustainingretailrevenue.?2008NewYorkUniversity.PublishedbyElsevierInc.Allrightsreserved.Key
5、words:Onlineuserreviews;Word-of-mouth;E-commerce;Motionpicture;SimultaneousequationsIntroductionofinformationtoconsumers,thusreducingretailersabilitytoin?uencetheseconsumersthroughtraditionalmarketingandWord-of-mouth(WOM)hasbeenrecognizedasoneoftheadvertisingchannel
6、s.Priorstudiesshowthatavarietyofaspectsmostin?uentialresourcesofinformationtransmissionsincetheofWOMin?uenceretailsales.SomefoundthatWOMdis-beginningofhumansociety(GodesandMayzlin2004;Maxhampersion(GodesandMayzlin2004)andvalence(ChevalierandandNetemeyer2002;Reynolds
7、andBeatty1999).However,Mayzlin2006;Forman,Ghose,andWiesenfeld2008)havesig-conventionalinterpersonalWOMcommunicationisonlyeffec-ni?canteffectsonproductsales,whileothersfoundthatWOMtivewithinlimitedsocialcontactboundaries,andthein?uencevolumeservesasthekeydriverofprod
8、uctsales(Chen,Wu,diminishesquicklyovertimeanddistance(BhatnagarandGhoseandYoon2004;Liu2006).Ontheotherhand,onlineWOM2004;EllisonandFudenbe
