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Will Loynd
Writing 2

The Contrasting Perspectives of Industrial Economics and Media Psychology

Film has been in our society since the early nineteenth century and has had a profound

impact on how we view society and the world around us. Reviews of films quickly started to

follow with certain film papers critiquing and praising movies that came out during the time.

This eventually led to the industry we see today where we have professional movie critics and

online resources where we can also see the public opinion of films before they even come out.

Although film and media studies has its own academic discipline, I wanted to focus on movie

reviews themselves which were mainly covered in economic and psychology fields. Industrial

economics and media psychology are two distinct disciplines that offer unique perspectives and

methodologies in their respective fields. While both share similarities in their empirical

approaches and interdisciplinary connections, they differ in subject matter and research focus. I

will be focused on aiming my essay towards the differences between industrial economics and

media psychology by analyzing two scholarly articles: The Influence of Expert Reviews on

Consumer Demand for Experience Goods: A Case Study of Movie Critics by David A. Reinstein

and Christopher M. Snyder, and Everyone’s a Critic: The Power of Expert and Consumer

Reviews to Shape Readers’ Post-Viewing Motion Picture Evaluations by Ruud S. Jacobs. I will

analyze both of these scholarly communities to give insights into the distinct opinions and

objectives of both respective disciplines and the main differences that each perspective is trying

to communicate.

In the introduction of The Influence of Expert Reviews on Consumer Demand for

Experience Goods: A Case Study of Movie Critics, authors Reinstein and Snyder state, “it is

useful to study [expert reviews] to get a comprehensive picture of the aggregate flow of
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information that might influence consumers’ demand for experience goods.”1 Reinstein and

Snyder are telling the audience of their research paper that they are focusing on the influence of

expert reviews on consumer demand for movies within the framework of industrial economics.

The article's central argument revolves around how expert reviews impact box office revenue. By

employing a “difference-in-differences”2 approach, the authors aim to isolate the effect of

reviews on movie demand. This approach is accepted in the economic field as this form of

statistical analysis and is used in econometrics to mimic an experimental research design that is

useful in data analysis. They explore the timing of reviews by popular critics, such as Siskel and

Ebert, relative to movie releases. Reinstein and Snyder rely on data related to movie critics'

reviews and opening weekend box office revenue to support their argument. Their analysis

presents clear evidence such as highlighting that, “critics’ reviews are more important for ‘art’

movies than for ‘event’ movies.”3 The audience for this article includes economists,

policymakers, and researchers interested in consumer behavior. It falls under the discipline of

industrial economics and assumes readers have a basic understanding of economic concepts. The

article follows a structured format with sections such as introduction, methodology, results, and

conclusion. The language used is precise, empirical, and quantitative. Graphs are used to

illustrate the timing of reviews and revenue to help better understand their research in a broad

context. Graphs are very important for economics as they easily explain data and help those who

might not know certain economic terms decipher what the article is really talking about. The

conclusion mainly emphasizes the influence of reviews across the movie industry and focuses

specifically on how early positive reviews can significantly increase box office profits for certain

genres of film. The conclusion also states that some of the findings might not be statistically

1 Reinstein and Snyder, “The Influence of Expert Reviews,” 2.

accurate due to the use of traditional methodology that could be expanded on in later research.

The implications of the research and what this might mean for the future is also discussed

showing the major influence of expert reviews on transmitting information about goods that

people are uncertain about. This falls directly under consumer reviews for films as no one knows

if a film will be good or not which is why they studied this topic for market research on

consumers in American society. Psychology takes a different approach through understanding

the influence outside sources might have on viewers instead of looking from a macroeconomic

approach that considers viewers of film as consumers instead of actual people.

The psychology article, Everyone's a Critic: The Power of Expert and Consumer Reviews

to Shape Readers' Post-Viewing Motion Picture Evaluations, written by Jacobs, explores how

both expert and consumer reviews influence individual post-viewing evaluations of movies

within the realm of media psychology. This is emphasized in the introduction of the article when

Jacobs writes, “The current study compared the expert and consumer styles of criticism in their

effect on film viewers’ opinions.”4 Jacobs acknowledges the rise of online consumer reviews and

their impact on mainstream popularity which is why he wants to compare the influence of expert

reviews against written online reviews where people can share their opinions. The article aims to

understand how polarized and negative reviews affect enjoyment and involvement in movies. It

emphasizes the influence of reviews on individual experiences and delves into the concept of

credibility, trait empathy, and viewer involvement. Jacobs uses data from both expert reviews

and consumer reviews to support their argument. The audience for this article includes scholars

in media studies, communication, and psychology while still being accessible to read for the

general public. This is shown in the article through addressing, “observ[ing] both a viewer's own,

4 Ruud S. Jacobs, “Everyone's a Critic: The Power of Expert and Consumer Reviews,” 2.
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implicit idea of an evaluation as well as an evaluation built from responses to adjectives.” 5 It falls

under the discipline of media psychology and assumes readers have a basic understanding of

media consumption and evaluation while still explaining these concepts to help the evidence

found in their own research. The article contributes to discussions on media effects and audience

responses. Reinstein and Christopher follow a research paper format with sections such as

introduction, methods, results, and discussion. The language used is accessible, interdisciplinary,

and empirical for all readers to understand their research. Visual materials such as charts and

graphs are included to illustrate the impact of reviews on the brain to help get a visual of what

they are trying to claim. The conclusion mainly emphasizes the influence of reviews across the

movie industry and focuses specifically on how early positive reviews can significantly increase

box office profits. The conclusion also states that some of the findings might not be statistically

accurate due to the use of traditional methodology of finding the evidence as evidence can be

biased based on different factors affecting the environment. The implications of the research and

what this might mean for the future is also discussed showing the major influence of expert

reviews on transmitting information about goods that people are uncertain about. Both articles

use a similar research approach and formatting for constructing their claims and findings but

both disciplines employ distinct writing styles and language choices to better help their

audiences understand the finds made in their research.

While both articles share empirical approaches and contribute to their respective

scholarly communities, they differ in prioritizing precision, quantitative and qualitative data, and

subjective reflection. Industrial economics focuses on market dynamics, analyzing the impact of

expert reviews on consumer demand and box office revenue. It aims to understand the

relationship between information quality and consumer choices within the context of movie

5 Jacobs, 7.
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consumption. This economic approach uses mostly quantitative data by incorporating statistical

analysis, numerical results, and using models to get their point across. On the other hand, media

psychology explores the psychological impact of media, specifically focusing on how expert and

consumer reviews shape individual post-viewing evaluations of movies. It delves into factors

such as credibility, trait empathy, and viewer involvement to understand how reviews influence

enjoyment and involvement in movies. Although psychology uses quantitative data such as

graphs that were similarly used in the economics article, more qualitative data is used in the

psychology article. The language Jacobs uses reflects a qualitative approach through using words

such as, “perception” or “emotion,”6 to explore the motives and motivations a subject

experiences. Another difference between the two fields of study is the tone of both articles. This

becomes very prevalent when reading Reinstein and Snyder as they keep a very objective tone

that doesn’t seem to have any bias. They keep this formal tone to ensure they are being neutral

with their findings because policymakers need reliable information without a bias. These

differences in subject matter and research focus contribute to the distinct scholarly communities

created by industrial economics and media psychology. By examining these contrasting

perspectives, we gain a comprehensive understanding of economic systems and media effects.

Industrial economics provides insights into market dynamics, consumer behavior, and

information quality within the context of movie consumption. Media psychology, on the other

hand, delves into the psychological processes underlying audience responses to media and

highlights the influence of expert and consumer reviews on individual experiences.

Industrial economics and media psychology offer distinct perspectives within their

respective disciplines. While industrial economics focuses on market dynamics and consumer

behavior in relation to expert reviews, media psychology explores the psychological impact of

6 Jacobs, 15.
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media and the influence of both expert and consumer reviews on individual experiences. By

analyzing the articles mentioned, we see how these disciplines contribute uniquely to our own

human behavior. They use different forms of analysis to highlight certain aspects of humanity

when consuming media. Both fields of study could learn from one another whether that is

economics including a more qualitative approach to research to focus on a more emotional and

social context. Whereas psychology could include more qualitative data that enhances their

analysis and credibility. Through understanding the distinct lenses both fields of study use, one is

able to gain a realistic understanding of how both fields view the world and how each field can

be used to help one another.

Bibliography:

Reinstein, David A., and Christopher M. Snyder. “The influence of expert reviews on consumer

demand for experience goods: A case study of movie critics*.” Journal of Industrial Economics,

vol. 53, no. 1, Mar. 2005, pp. 27–51, https://doi.org/10.1111/j.0022-1821.2005.00244.x.

Ruud S. Jacobs,. “Everyone’s a Critic: The Power of Expert and Consumer Reviews to Shape

Readers’ Post-Viewing Motion Picture Evaluations.” ScienceDirect, 2 July 2015, www-

sciencedirect-com.proxy.library.ucsb.edu/science/article/pii/S030 4422X1500056X?via

%3Dihub.