The price of short-term housing: A study of Airbnb on 26 regions in the United States

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-05-26 DOI:10.1016/j.jhe.2024.102005

Wenzhen Lin , Fan Yang

{"title":"The price of short-term housing: A study of Airbnb on 26 regions in the United States","authors":"Wenzhen Lin , Fan Yang","doi":"10.1016/j.jhe.2024.102005","DOIUrl":null,"url":null,"abstract":"<div><p>This study investigates the influence of customer review content and other attributes on Airbnb listing prices, using data from listings across 26 U.S. regions. By integrating sentiment analysis and topic modeling with hedonic and quantile regression models, this paper examines the significant role of electronic word-of-mouth in the short-term rental market, by studying how review sentiments and topics affect pricing strategies. The findings reveal that negative reviews have twice the impact on listing prices as positive reviews; and fourfold for lower-priced listings. Moreover, the results of topic modeling show that both positive and negative reviews related to facilities and location have a larger impact on listing prices. Additionally, the study looks at how the distance of listings from the city center and the timing of reviews affect pricing adjustments. The influence of reviews diminishes for listings located farther from the city center, indicating that Airbnb listing prices near the city center are more sensitive to changes in price determinants. The study also uncovers the existence of a lag effect in how reviews impact prices, showing that Airbnb hosts may not adjust prices as quickly as hotel owners. Overall, the study enriches existing literature by taking into account the review content and type of customer reviews, offering a more comprehensive understanding of short-term rental pricing.</p></div>","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2024-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S105113772400024X","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}

引用次数: 0

Abstract

This study investigates the influence of customer review content and other attributes on Airbnb listing prices, using data from listings across 26 U.S. regions. By integrating sentiment analysis and topic modeling with hedonic and quantile regression models, this paper examines the significant role of electronic word-of-mouth in the short-term rental market, by studying how review sentiments and topics affect pricing strategies. The findings reveal that negative reviews have twice the impact on listing prices as positive reviews; and fourfold for lower-priced listings. Moreover, the results of topic modeling show that both positive and negative reviews related to facilities and location have a larger impact on listing prices. Additionally, the study looks at how the distance of listings from the city center and the timing of reviews affect pricing adjustments. The influence of reviews diminishes for listings located farther from the city center, indicating that Airbnb listing prices near the city center are more sensitive to changes in price determinants. The study also uncovers the existence of a lag effect in how reviews impact prices, showing that Airbnb hosts may not adjust prices as quickly as hotel owners. Overall, the study enriches existing literature by taking into account the review content and type of customer reviews, offering a more comprehensive understanding of short-term rental pricing.

查看原文本刊更多论文

短期住房的价格：对美国 26 个地区 Airbnb 的研究

本研究利用美国 26 个地区的房源数据，调查了客户评论内容和其他属性对 Airbnb 房源价格的影响。通过将情感分析和主题建模与享乐回归模型和量子回归模型相结合，本文研究了评论情感和主题如何影响定价策略，从而探讨了电子口碑在短租市场中的重要作用。研究结果表明，负面评论对房源价格的影响是正面评论的两倍；对低价房源的影响是正面评论的四倍。此外，主题建模的结果显示，与设施和位置相关的正面和负面评论对挂牌价格的影响都较大。此外，研究还探讨了房源与市中心的距离以及评论的时间对价格调整的影响。距离市中心较远的房源受评论的影响较小，这表明市中心附近的 Airbnb 房源价格对价格决定因素的变化更为敏感。研究还发现，评论对价格的影响存在滞后效应，这表明 Airbnb 房东可能不会像酒店业主那样迅速调整价格。总之，该研究通过考虑客户评论的内容和类型，丰富了现有文献，为人们更全面地了解短租定价提供了依据。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.