Hedonic Price Analysis

Παπαθεοδώρου, Ανδρέας; Lei, Ziqiang; Apostolakis, Alexandros

doi:10.4337/9781781001295.00015

Cited by 18 publications

(19 citation statements)

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“…Although several functional forms are compatible with hedonic price analysis (Papatheodorou, Lei, & Apostolakis, 2012), the semi-logarithmic form recommended by Rosen (1974) is most frequently used in research (Andersson, Shyr, & Fu, 2010). The hedonic price model for the rental price of AirBnB accommodation may be specified as a function of a set of attributes:…”

Section: Methodsmentioning

confidence: 99%

“…The coefficients can be transformed using the transformation . / − 1, where ( is the coefficient and e is the base of the natural logarithm, to provide a more precise explanation of each coefficient (Papatheodorou, Lei, & Apostolakis, 2012). This transformation provides the dummy's effect in percentage terms.…”

Section: Methodsmentioning

confidence: 99%

“…The hedonic price approach has witnessed increasing use in tourism research. However, much research has focused on the hotel and tour operating sectors (Papatheodorou, Lei, & Apostolakis, 2012). There have been studies on sun and beach package tours (Thrane, 2005), entrance tickets for attractions (Falk, 2008), destination choice (Morley, 1992;Papatheodorou, 2001;Rugg, 1973), pricing strategies at holiday hotels in the sun-andbeach segment (Espinet, Saez, Coenders, & Fluviab, 2003), and bed and breakfast amenities (Monty & Skidmore, 2003).…”

Section: Hedonic Price Theory and Tourismmentioning

confidence: 99%

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Price-setting behavior in a tourism sharing economy accommodation market: A hedonic price analysis of AirBnB hosts in the caribbean

Lorde

Jacob

Weekes³

2019

Tourism Management Perspectives

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This study investigated the price-setting behaviour of hosts in the tourism sharing economy in the Caribbean. Generally speaking, we find that site, reputation, convenience, personal and amenities attributes, along with country-level indicators significantly affect prices in the Caribbean. More specifically, most attributes have a positive effect on price-setting. Larger accommodations charge higher prices. Hosts with superior reputations charge higher prices. However, listings with a larger number of ratings are associated with lower prices.This may be an artefact of tourists' preferences for cheaper sharing accommodations, resulting in a relatively higher volume of reviews for properties at the lower end of the price spectrum. Provision of Convenience options have an overall positive effect on prices, although there is evidence that some options can result in lower prices for tourists. The sole Personal attribute investigated is associated with higher price-setting behaviour. Virtually all amenities examined result in greater prices being charged for the space. Results indicate that geography has significant effects on price-setting behaviour. Listings in countries with greater economic and infrastructural development, greater biodiversity, but weaker exchange rates have higher prices. On the other hand, prices are lower in countries where there is more competition for customers.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Hedonic Price Theory and Tourismmentioning

confidence: 99%

See 1 more Smart Citation

Price-setting behavior in a tourism sharing economy accommodation market: A hedonic price analysis of AirBnB hosts in the caribbean

Lorde

Jacob

Weekes³

2019

Tourism Management Perspectives

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“…hjhgjhgjjjjfdgfdgfdffff Page 13 Virgin Australia). However in other situations, where more complex regional, temporal, and competitive environments are found, the adjustment of fares to account for service levels via hedonic price regression may prove useful for future research (for a discussion see Papatheodorou et al, 2012). In addition, future researchers utilizing a "connections" variable may find it useful to calculate a link quality measure, as can be found in Wittman and Swelbar (2013).…”

Section: Source: Bitre Aviation Statisticsmentioning

confidence: 99%

Geographic Correlates of Lowest Available Airfares on Australian Air Routes

Fuellhart

Derudder²,

O’Connor³

et al. 2015

JATS

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Deregulation of the airline industry in Australia has produced lower airfares. However this perspective rarely incorporates spatial insights and usually utilizes archival data. The purpose of this paper is to conduct a first-stage confirmatory analysis of up-to-date airfares charged on 24 major routes within Australia using Skyscanner, a web-based and consumer-oriented tool to access airfares. This tool displays fares during an on-line booking process prior to purchase, just as consumers would experience it. We apply Skyscanner to extract one set of current fares -- lowest fare data -- on the routes and then use linear modelling to establish variables that can be utilized to predict these lowest fare prices. While far from a full accounting of the cost of Australian air services, this test of Skyscanner as a data source, along with the successful confirmatory linear analysis, shows that the underlying configuration of the nation’s urban population, distance, direct connections, and characteristics of links and networks of low cost carriers are powerful influences upon prices charged. We suggest that Skyscanner and similar data sources may provide researchers with alternative low cost data that may shed insight into many air transport pricing questions.

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“…The complexity of tourism products is such that considering consumers' perceptions of each service attribute associated with the price is critically important in determining its relevance to a consumer's choices and preferences (Chen & Rothschild, ). Hedonic price analysis is the theoretical support often used to discern which and to what extent specific characteristics are valued by consumers (Papatheodorou, Lei, & Apostolakis, ).…”

Section: Introductionmentioning

confidence: 99%

Does advance booking matter in hedonic pricing? A new multivariate approach

Guizzardi

Angelini

Pons

2019

Journal of Tourism Research

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We consider prices across the advance bookings as a multivariate variable, modelling the time effect by means of a structural vector autoregression. Its unit-specific fixed effect is taken as the dependent variable in a set of hedonic regressions allowing us to estimate the marginal contribution to price of the (time-invariant) attributes along the price trajectory. Results from our two-step approach indicate that although past occupancy rates, events, bank holidays, and seasonality differentiate pricing strategies across advance bookings, time-invariant services/attributes tend to increase in hedonic value as the advance booking period decreases, reducing the contribution of dynamic pricing. K E Y W O R D Sbusiness tourism, dynamic pricing, fairs, Milan, seasonality, structural vector autoregression

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Hedonic Price Analysis

Cited by 18 publications

References 0 publications

Price-setting behavior in a tourism sharing economy accommodation market: A hedonic price analysis of AirBnB hosts in the caribbean

Price-setting behavior in a tourism sharing economy accommodation market: A hedonic price analysis of AirBnB hosts in the caribbean

Geographic Correlates of Lowest Available Airfares on Australian Air Routes

Does advance booking matter in hedonic pricing? A new multivariate approach

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