A statistical model to identify the price determinations: the case of Airbnb
Contu, Giulia;Frigau, Luca;Zammarchi, Gianpaolo;Mola, Francesco
2021-01-01
Abstract
We propose an indicator to estimate the effects of transports, culture, crowd, managerial, accommodation dimensions on price determination for Airbnb accommodations. The indicator is defined using a proportional odds model in two steps. In the first phase, we estimate for each accommodation the probability to belong to a specific category of the price moving from very-low to very-high. Then, we estimate the average concentration index to identify which is the price class more likely for each observation and which dimension can better explain the price. Then, we assign the price class to each observation using the median of the probabilities of the model’s fitted values and identify the most significant dimension. Afterward, we aggregate the concentration index calculated for each observation for the district of Trastevere in Rome, with the aim to identify its most relevant dimensions. The results highlight a significant impact of the managerial and accommodation dimensions.File | Dimensione | Formato | |
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