Berentsen, Aleksander and Rojas Breu, Mariana and Waller, Christopher J.. (2019) What is the Value of Being a Superhost? RESEARCH DIVISION - Working Paper Series, 2019 (19A). St. Louis.
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Official URL: https://edoc.unibas.ch/73599/
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Abstract
We construct a search model where sellers post prices and produce goods of unknown quality. A match reveals the quality of the seller. Buyers rate sellers based on quality. We show that unrated sellers charge a low price to attract buyers and that highly rated sellers post a high price and sell with a higher probability than unrated sellers. We find that welfare is higher with a ratings system. Using data on Airbnb rentals, we show that Superhosts and hosts with high ratings: 1) charge higher prices, 2) have a higher occupancy rate and 3) higher revenue than average hosts.
Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Wirtschaftstheorie (Berentsen) |
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UniBasel Contributors: | Berentsen, Aleksander and Rojas Breu, Mariana |
Item Type: | Working Paper |
Publisher: | Federal Reserve Bank of St. Louis |
Note: | Publication type according to Uni Basel Research Database: Discussion paper / Internet publication |
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Last Modified: | 22 Dec 2020 13:45 |
Deposited On: | 22 Dec 2020 13:45 |
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