What Drives Herding Behavior in Online Ratings? The Role of Rater Experience, Product Portfolio, and Diverging Opinions

Consumers’ postpurchase evaluations have received much attention due to the strong link between ratings and sales. However, less is known about how herding effects from reference groups (i.e., crowd and friends) unfold in online ratings. This research examines the role of divergent opinions, rater experience, and firm product portfolio in attenuating/amplifying herding influences in online rating environments. Applying robust econometric...