Wikipedia Matters∗ Marit Hinnosaar† Toomas Hinnosaar‡ Michael Kummer§ Olga Slivko¶ July 14, 2019 Abstract We document a causal impact of online user-generated information on real-world economic outcomes. In particular, we conduct a randomized field experiment to test whether additional content on Wikipedia pages about cities affects tourists’ choices of overnight visits. Our treatment of adding information to Wikipedia in- creases overnight stays in treated cities compared to non-treated cities. The impact is largely driven by improvements to shorter and relatively incomplete pages on Wikipedia. Our findings highlight the value of content in digital public goods for informing individual choices. JEL: C93, H41, L17, L82, L83, L86 Keywords: field experiment, user-generated content, Wikipedia, tourism industry ∗We are grateful to Irene Bertschek, Avi Goldfarb, Shane Greenstein, Tobias Kretschmer, Michael Luca, Thomas Niebel, Marianne Saam, Greg Veramendi, Joel Waldfogel, and Michael Zhang as well as seminar audiences at the Economics of Network Industries conference (Paris), ZEW Conference on the Economics of ICT (Mannheim), Advances with Field Experiments 2017 Conference (University of Chicago), 15th Annual Media Economics Workshop (Barcelona), Conference on Digital Experimentation (MIT), and Digital Economics Conference (Toulouse) for valuable comments. Ruetger Egolf, David Neseer, and Andrii Pogorielov provided outstanding research assistance. Financial support from SEEK 2014 is gratefully acknowledged. †Collegio Carlo Alberto and CEPR,
[email protected] ‡Collegio Carlo Alberto,
[email protected] §Georgia Institute of Technology & University of East Anglia,
[email protected] ¶ZEW,
[email protected] 1 1 Introduction Asymmetric information can hinder efficient economic activity (Akerlof, 1970). In recent decades, the Internet and new media have enabled greater access to information than ever before.