Learning in peer-to-peer marketsevidence from Airbnb

Resumo

Peer-to-peer markets are highly uncertain environments due to the constant presence of shocks. As a consequence, sellers have to constantly adjust to these shocks. Dynamic Pricing is hard, especially for non-professional sellers. We study it in an accommodation rental marketplace, Airbnb. With scraped data from its website, we: 1) describe pricing patterns consistent with learning; 2) estimate a demand model and use it to simulate a dynamic pricing model. We simulate it under three scenarios: a) with learning; b) without learning; c) with full information. We have found that information is an important feature concerning rental markets. Furthermore, we have found that learning is important for hosts to improve their profits.

Ficha do documento

Tipo

Dissertação

Ano

2016

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/16568

Temas

EconomiaDesenvolvimento Econômico

Palavras-chave

LearningPeer-to-peer marketsAirbnbEconomiaArquitetura não-hierárquica (Rede de computador)Anúncios - Indústria de hospitalidade - Inovações tecnológicasEmpresas novas