Hedonic pricing and the sharing economy
How profile characteristics affect Airbnb accommodation prices in Barcelona, Madrid, and Seville
Bibliographic Data
| ID | 21699743 |
|---|---|
| Authors | Baldwin Tong (0000-0003-0868-098X, MODUL University Vienna, Vienna, Austria), Ulrich Gunter (0000-0003-3347-810X, MODUL University Vienna, corresponding author) |
| Year | 2022 |
| Volume | 25 |
| Issue | 20 |
| Pages | 3309-3328 |
| Publication date | 2022-10-18 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Current Issues in Tourism (JOURNAL) |
| Journal identifiers | ISSN: 1368-3500 • E-ISSN: 1747-7603 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/13683500.2020.1718619 |
| OpenAlex | W3003215975 |
| Language | EN |
| Citations received | 19 |
| References cited | 51 |
The sharing economy has allowed people from all over the world to more effectively utilize their assets. Owners or controllers of assets in the sharing economy are free to set any price they want subject to prevailing market demand as long as they operate in an imperfectly competitive market environment. This paper examines how various characteristics of an Airbnb listing (size, number of photos, ratings, host responsiveness, superhost status, distance from city centre, etc.) affect the prices of accommodation and determines which factors strongly affect price using weighted least squares (WLS) and quantile regression. A hedonic pricing model was developed and applied to data from the cities of Barcelona, Madrid, and Seville to determine how the different characteristics of an Airbnb listing affect the price of accommodation in these major three Spanish tourist cities. The estimation results, which are resilient to various robustness checks, indicate that overall rating as well as characteristics indicative of the size of the accommodation have the strongest positive influence on price, while the number of reviews and distance from the city centre have the strongest negative influence on price
Accommodation · Business · Econometrics · Economics · Geography · Hedonic Pricing · Hedonic regression · Microeconomics · Quantile regression · Sharing economy · Tourism · Computer Science · Consumer Retail Behavior Studies · Sharing Economy and Platforms · Transportation and Mobility Innovations · Finance
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What makes an Airbnb host a superhost? Empirical evidence from San Francisco and the Bay Area
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Airbnb
| Unique citing works | 19 |
|---|---|
| Citations per year | 3,17 |
| Citation span | 2020 - 2025 (6) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 15 |