Abstract
Purpose
This paper aims to identify a wide array of utility-based attributes of Airbnb listings and measures the effects of these attributes on consumers’ valuation of Airbnb listings.
Design/methodology/approach
A hedonic price model was developed to test the effects of a group of utility-based attributes on the price of Airbnb listings, including the characteristics of Airbnb listings, attributes of hosts, reputation of listings and market competition. The authors examined attributes as they relate to the price of Airbnb listings and, therefore, estimated consumers’ willingness to pay for the specific attributes. The model was tested by using a dataset of 5,779 Airbnb listings managed by 4,602 hosts in 41 census tracts of Austin, Texas in the USA over a period from Airbnb’s launch in Texas up until November 2015.
Findings
The authors found that the functional characteristics of Airbnb listings were significantly associated to the price of the listings, and that three of five behavioral attributes of hosts were statistically significant. However, the effect of reputation of listings on the price of Airbnb listings was weak.
Originality/value
This study inspires what they call a factor-endowment valuation of Airbnb listings. It shows that the intrinsic attributes that an Airbnb listing endows are the primary source of consumer utilities, and thus consumer valuation of the listing is grounded on its functionality as an accommodation. This conclusion can shed light on the examination of competition between Airbnb and hotel accommodations that are built on the same or similar intrinsic attributes.
Subject
Tourism, Leisure and Hospitality Management
Reference65 articles.
1. Dynamic pricing strategies: evidence from European hotels;International Journal of Hospitality Management,2012
2. Airbnb (2016), “Super host”, Airbnb Inc, available at: www.airbnb.com/superhost(accessed 10 January 2017).
3. Hotel performance impact of socially engaging with consumers;Cornell Hospitality Report,2016
4. Hedonic price methods and the structure of high-technology industrial markets: an empirical analysis;Industrial Marketing Management,2001
5. Sharing’s not just for start-ups;Harvard Business Review,2014
Cited by
174 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献