Trust in peers or in the institution? A decomposition analysis of Airbnb listings’ pricing

Paschalis Arvanitidis · Athina Economou · Georgios Grigoriou · Christos Kollias

27 citations0/0 files storedCurrent Issues in Tourism

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Sharing Economy and Platforms Diverse Aspects of Tourism Research Housing Market and Economics

Abstract

The present paper examines whether Airbnb listing prices differ significantly between ‘casual’ hosts and hosts with multiple listings, regarded as professionals. To this effect the Airbnb apartment market in Athens (Greece) is used as a case study. Drawing on a sample of about 3.500 Airbnb apartments listed in May 2017, the study employs, first, typical hedonic price modelling to assess the determinants of listings’ price of both groups, and then it uses the Blinder–Oaxaca decomposition methodology to examine whether there is a price gap between casual and professional hosts, the characteristics that cause this price gap and their relative contribution to it. The research finds a statistically significant difference in the Airbnb pricing between casual and professional hosts, where about a half of the price gap is attributed to the ‘better’ listings that professionals manage (in terms of size, availability of amenities and locational attributes), and a half to the different reaction hosts have towards specific Airbnb characteristics. In particular, professionals value higher (i.e. place more trust on) the Superhost badge issued by Airbnb as an institution, whereas casual hosts place trust on (and price accordingly) the evaluations provided by the guests.

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References

1974Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition 1973Male-Female Wage Differentials in Urban Labor Markets 1973Wage Discrimination: Reduced Form and Structural Estimates 2001What Trust Means in E-Commerce Customer Relationships: An Interdisciplinary Conceptual Typology 2002The impact of initial consumer trust on intentions to transact with a web site: a trust building model 2013Airbnb: disruptive innovation and the rise of an informal tourism accommodation sector 2004Trust among strangers in internet transactions: Empirical analysis of eBay' s reputation system 1994On discrimination and the decomposition of wage differentials

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2021A Systematic Literature Review on Pricing Strategies in the Sharing Economy 2020Booking Prediction Models for Peer-to-peer Accommodation Listings using Logistics Regression, Decision Tree, K-Nearest Neighbor, and Random Forest Classifiers 2023The role of superhost badge in Airbnb hosts’ continuance intention 2024Spatial coopetition and peer-to-peer accommodation price 2023

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