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Case study of Airbnb listings in Berlin: Hedonic pricing approach to measuring demand for tourist accommodation characteristics
Dalarna University, School of Technology and Business Studies, Economics.
2018 (English)Independent thesis Advanced level (degree of Master (Two Years)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The main purpose of this degree project is to reveal the Airbnb customer’s preferences and quantify the impact of non-market factors on the market price of tourist accommodation in Berlin, Germany. The data retrieved from Airbnb listings, publicly available on Inside Airbnb (2017), was supplemented on indicator of sharing economy accommodation using machine learning method in order to distinguish between amateur and business-running professional hosts. The main aim is to examine the consumers’ preferences and quantify the marginal effect of "real sharing economy" accommodation and other key variables on market price.

This is accomplished by model approach using hedonic pricing method, which is used to estimate the economic value of particular attribute. Surprisingly, our data indicates the negative impact of sharing economy indicator on price. The set of motivations of consumers, which determine their valuation of Airbnb listings, was identified. The trade-off between encompass and parsimony of the set was desired in order to build an effective model. Calculation of proportion of explained variance showed that the price is affected mainly by number of accommodated persons, degree of privacy, number of bedrooms, cancellation policy, distance from the city centre and sharing economy indicator in decreasing order.

Place, publisher, year, edition, pages
2018.
Keywords [en]
Sharing economy accommodation, Airbnb, hedonic pricing, machine learning, linear regression, ordinary least squares method (OLS), Berlin.
National Category
Economics
Identifiers
URN: urn:nbn:se:du-29979OAI: oai:DiVA.org:du-29979DiVA, id: diva2:1313746
Available from: 2019-05-06 Created: 2019-05-06

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • chicago-author-date
  • chicago-note-bibliography
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf