Spatial price mimicking on Airbnb: Multi-host vs single-host |
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Institution: | 5. Luiss, Viale Romania, 32, 00197, Roma, Italy |
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Abstract: | This paper studies the existence of two different supply operators in the peer-to-peer accommodation rental market for the city of Madrid. We specifically analyse spatial dependencies in price formation and whether the so-called professional hosts (i.e. those who have several Airbnb listings) set prices differently from single-property hosts. To this end, hedonic price models are estimated with and without spatial price dependence. Listings’ structural characteristics and accessibility measures to transportation hubs and sightseeing spots are considered in the regressions. Results provide clear evidence that price mimicking is higher among non-professional hosts whereas professional hosts set prices more independently. |
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Keywords: | Airbnb Spatial hedonic pricing Accessibility Spatial econometrics Professional hosts D4 C21 L83 R31 R52 Z3 |
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