Exit, Tweets, and Loyalty

• 成果类型: Article
• 署名作者: Gans, Joshua S.; Goldfarb, Avi; Lederman, Mara
• 署名单位: University of Toronto
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MICROECONOMICS
• ISSN/ISSBN: 1945-7669
• DOI: 10.1257/mic.20180085
• 发表日期: 2021
• 页码: 68-112
• 关键词: word-of-mouth; management; PROGRAMS; reviews; QUALITY; IMPACT

摘要

Hirschman's Exit, Voice, and Loyalty highlights the role of voice when individuals confront an unexpected deterioration in quality. Yet, voice has received little attention. To motivate our empirical analysis, we develop a simple model of voice as the equilibrium of a relational contract between customers and firms. We use data on 4 million tweets to or about US airlines to study the relationship between quality, voice, and market structure. Voice increases when quality deteriorates. This relationship is greater for airlines that operate a large share of flights in a market. Supplemental analyses support a relational contracting role for voice.