Pod hvězdami: Zkoumání souvislosti mezi recenzemi a cenami v restauracích v centru Prahy

Kubíček, Matyáš

This thesis examines the relationship between price levels and online review scores of restaurants in central Prague. The results suggest a weak positive association between price and ratings, although this effect weakens under al- ternative specifications. More importantly, quantile regression reveals that the relationship varies across the rating distribution, with price playing a more significant role among lower-rated restaurants. While previous research has focused primarily on qualitative aspects such as food and service, which are the primary determinants of the resulting rat- ing, the role of price has received less attention, particularly when treated as a continuous variable. Using a dataset of 300 restaurants with manually col- lected menu prices, several econometric models are estimated. These findings contribute to a more nuanced understanding of how price influences customer evaluations and suggest directions for further research on heterogeneity in con- sumer behavior. JEL Classification D12, L83, M31, D40 Keywords model, review, average score, restaurant, price, regression, variable, geolocation, price level, Prague, fine dining, casual dining Title Beneath the stars: Examining the link between reviews and prices in central Prague's restau- rants Author's e-mail 39259545@fsv.cuni.cz...

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