Effect of crowd wisdom on pricing in the asset-based sharing platform: An attribute substitution perspective

Technological advancement has led to the emergence of online platforms fueled by the sharing economy across various industries. This study focuses on Airbnb - a specific asset-based sharing platform in the hospitality industry. Applying the theory of attribute substitution, we explore the wisdom of the crowd manifested in online reviews, in impacting pricing. We found that online review valence and volume have a positive association with room price. Depending on the crowdedness of the location this association is stronger or weaker. Customers care more about room popularity (volume) in a certain area when the fast system of decision-making is triggered. When, however, the slow system is triggered, customers consider the crime rate of a location (valence). Findings show how environmental stimuli and customer reviews decide room price - a variable that was decided traditionally by companies (e.g., hotels). The research furthers our understanding on asset-based platforms in the sharing economy.     

论新时代共享发展和全面建成小康社会的辩证关系

党的十八大提出了全面建成小康社会的发展目标,党的十八届五中全会提出了五大发展理念,其核心是共享发展。将共享发展和全面建成小康社会有机结合起来,全面促进中国特色社会主义的发展:首先,共享发展和全面建成小康社会具有契合性;其次,共享发展是全面建成小康社会的目的;最后,全面建成小康社会是共享发展的途径。准确理解共享发展和全面建成小康社会之间的关系,有利于丰富马克思主义发展观的理论意义和现实意义。     

Investigating consumer attitudes and intentions toward online fashion renting retailing

Due to growth of access-based consumption businesses, it is important to understand how consumers perceive online fashion renting services. Based on two theories, the Theory of Reasoned Actions and expectancy-value approach, this study aims to examine the influence of consumers' attitudes and subjective norms on their intentions to participate in online fashion renting, and to investigate behavioral beliefs that may cause them to form favorable intentions toward online renting. In order to do this, a total of 300 sample surveys were collected from U.S. consumers. To assess the respective measurement model, confirmatory factor analyses were performed, and a structural path analysis was performed to verify the hypothesized relationships. This study empirically asserts that attitudes and subjective norms are key predictors of consumers' intentions to participate in online fashion renting. Consumers' attitudes toward online fashion renting were determined by assessing their perceptions of its relative advantages, compatibility, ownership, and ecological value. While acknowledging the influence of subjective norms and previous fashion rental experience, online fashion rental platforms are also advised to engineer strategies to engage consumers in this practice and to encourage peer referrals. This study sheds light on the determining factors that shape consumers’ attitudes towards and intentions to participate in online fashion renting, from which appropriate business strategies could be devised to enhance consumer engagement and expand the online fashion rental market.     

Investigating the whole picture: Comparing the effects of Airbnb supply and hotel supply on hotel performance across the United States

This study examines and compares the extent to which Airbnb and hotel supply affect key hotel performance measures in the United States. The results show that although both Airbnb and hotel supply adversely affect hotel revenues (i.e., RevPAR), the magnitude of the impact of hotel supply on RevPAR is much larger than that of Airbnb. Airbnb adversely affects hotel room prices (i.e., ADR), however; it does not affect occupancy rates (i.e., OCC). Yet, increasing hotel supply negatively affects OCC but not ADR. The results from the state-level analyses further showed that the negative effects of Airbnb and hotel supply on RevPAR, ADR and OCC persist only in states with high hotel supply. Analyzing the joint effects of Airbnb and hotel supply on hotel performance in a manner that is both geographically-comprehensive and spatially-meaningful, this study provides a more complete and nuanced understanding on the economic dynamics of the accommodation industry.     

The effects of Airbnb on hotel performance: Evidence from cities beyond the United States

Although Airbnb's impact on hotels has been quantified for major hotel markets in the United States, these effects have not been quantified in international hotel markets. Accordingly, the purpose of this study is to examine the effects of Airbnb listings on key hotel performance metrics in an international context. In particular, we examine the effects of Airbnb listings on hotel revenue per available room (RevPAR), average daily rate (ADR), and occupancy rate (OCC) in major international hotel markets, namely London, Paris, Sydney and Tokyo. The results show that Airbnb listings in these major cities have been increasing more than 100% year over year and that the effect of Airbnb on hotel RevPAR and OCC is negative and statistically significant. In particular, a 1% increase in Airbnb listings decreases hotel RevPAR by between 0.016% and 0.031% in these hotel markets. The implications of these findings for destinations and hoteliers are discussed.     

A dynamic decision support system for evaluating peer-to-peer rental accommodations in the sharing economy

Accommodation accounts for one of the biggest expenses while traveling, and deciding where to stay is often confusing and time-consuming. Fortunately, travelers have more options than ever before because of the substantial growth of the peer-to-peer (P2P) short-term rentals in the sharing economy. Designing a user-friendly system that considers travelers’ preferences in choosing the right accommodation can enhance customer satisfaction and increase profitability. We propose a dynamic decision support system based on the theory of multi-criteria decision making to assist travelers in personalizing their preferences and finding quality accommodations in the dominant P2P market that aligns with those preferences. We use the fuzzy best-worst method to measure the intensity of the user’s preferences and the fuzzy technique for order of preference by similarity to the ideal solution (TOPSIS) to score and evaluate alternative P2P rental properties. We present a case study in the P2P rental accommodations industry to demonstrate the applicability of the method proposed in this study.     

嵌入理论视角下军民科技人才共享模式、困境及治理

科技人才是国家战略性资源。我国军工科技人才和民用科技人才长期处于割裂状态,无法有效支撑国家创新驱动发展战略和军民融合发展战略。基于嵌入理论,分析军民科技人才共享的嵌入制度基础、嵌入需求基础和人才趋同基础。根据嵌入性质与人才隶属关系改变与否,提出虚拟嵌入、实体嵌入和智力嵌入3种军民科技人才共享嵌入模式。分析嵌入认知、嵌入关系、嵌入政策、嵌入结构和嵌入渠道等方面的困境,并提出相应治理策略。     

The adoption of innovative work practices in service establishments

Using data from the 1994 US National Establishment Survey, the author investigates differences between manufacturing and service establishments in the use of five innovative work practices: total quality management, self-managed teams, job rotation, job sharing and flextime. Service establishments are more likely to use job sharing and flextime. Manufacturing establishments are more likely to use total quality management and self-managed teams. These results hold when controlling for establishments’ business strategies, worker demographics, institutional connections and use of technology. Determinants of adoption of total quality management, self-managed teams and flextime also varied by sector.     

Bertrand Games and Sharing Rules

We consider asymmetric Bertrand games with arbitrary payoffs at ties or sharing rules, and identify sufficient conditions for the zero-profit outcome and the existence of Nash equilibria. Subject to some technical conditions on non-tied payoffs the following hold. If the sharing rule is strictly tie-decreasing all players but one receive zero equilibrium payoffs, while everybody does so if non-tied payoffs are symmetric. Mixed (pure) strategy Nash equilibria exist if the sharing rule is (norm) tie-decreasing and coalition-monotone. I would like to thank Fernando Branco, the audience at Pompeu Fabra (Barcelona), ISEG (Lisbon), University of Mannheim, ESEM 2003 (Venice), EARIE 2005 (Porto), two anonymous referees, and the editor Dan Kovenock for very useful comments. This research received financial support under project POCTI/ECO/37925/2001 of FCT and FEDER.     

自行车产业如何突破质量瓶颈

从分析自行车产业发展面临的瓶颈问题着手,指出质量是影响自行车产业发展和企业经营效益的关键性因素。质量监控的重要手段之一是检测,检测由标准来规范。因此,制修订检测和计量标准,加强标准宣贯和统一检测方法是促进自行车产业可持续发展的重要保障。