Consumer valuation of Airbnb listings: : a hedonic pricing approach

Chen, Yong (Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland) ; Xie, Karen (Daniels College of Business, University of Denver, Denver, Colorado, USA)

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.


Mots-clés:
Type d'article:
scientifique
Faculté:
Economie et Services
Ecole:
EHL Ecole hôtelière de Lausanne
Classification:
Economie/gestion
Date:
2017
Pagination:
37 p.
Titre du document hôte:
International journal of contemporary hospitality management
Numérotation (vol. no.):
2017, vol. 29, no. 9, pp. 2405-2424
DOI:
ISSN:
0959-6119
Le document apparaît dans:

Note: The status of this file is: restricted


 Notice créée le 2017-10-25, modifiée le 2018-02-15

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