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Conference Paper: Information Asymmetry and User Reviews: the Cases of Airbnb and Hotel Accommodations
| Title | Information Asymmetry and User Reviews: the Cases of Airbnb and Hotel Accommodations |
|---|---|
| Authors | |
| Issue Date | 2017 |
| Citation | Asia Pacific Real Estate Research Symposium 2017, The University of Hong Kong, Hong Kong, 23-24 August 2017 How to Cite? |
| Abstract | We found that online user reviews provide useful information for pricing of online accommodations. This is true for both Airbnb and hotels, despite latter has a star rating system that can solves some of the information asymmetry problems. Empirical results from Hong Kong, Taipei City, Shanghai, Tokyo, City of London and New York City suggest a positive impact of user reviews on the pricing of Airbnb and hotels. The result is in sharp contrast to previous empirical results that showed no correlation between user reviews and Airbnb prices. In addition, we found that and that the impact of user reviews on pricing is stronger for high-end accommodations. We believe this is due to the higher service content of high-end accommodations, the quality of which is more asymmetric and thus their pricing is more sensitive to user reviews. |
| Persistent Identifier | http://hdl.handle.net/10722/260076 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Chau, KW | - |
| dc.contributor.author | Liang, J | - |
| dc.contributor.author | Lam, SF | - |
| dc.date.accessioned | 2018-09-03T04:28:16Z | - |
| dc.date.available | 2018-09-03T04:28:16Z | - |
| dc.date.issued | 2017 | - |
| dc.identifier.citation | Asia Pacific Real Estate Research Symposium 2017, The University of Hong Kong, Hong Kong, 23-24 August 2017 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/260076 | - |
| dc.description.abstract | We found that online user reviews provide useful information for pricing of online accommodations. This is true for both Airbnb and hotels, despite latter has a star rating system that can solves some of the information asymmetry problems. Empirical results from Hong Kong, Taipei City, Shanghai, Tokyo, City of London and New York City suggest a positive impact of user reviews on the pricing of Airbnb and hotels. The result is in sharp contrast to previous empirical results that showed no correlation between user reviews and Airbnb prices. In addition, we found that and that the impact of user reviews on pricing is stronger for high-end accommodations. We believe this is due to the higher service content of high-end accommodations, the quality of which is more asymmetric and thus their pricing is more sensitive to user reviews. | - |
| dc.language | eng | - |
| dc.relation.ispartof | Asia Pacific Real Estate Research Symposium 2017 | - |
| dc.title | Information Asymmetry and User Reviews: the Cases of Airbnb and Hotel Accommodations | - |
| dc.type | Conference_Paper | - |
| dc.identifier.email | Chau, KW: hrrbckw@hku.hk | - |
| dc.identifier.email | Liang, J: joliang@hku.hk | - |
| dc.identifier.authority | Chau, KW=rp00993 | - |
| dc.identifier.hkuros | 288052 | - |