Into the unknown: Shadow prices associated with direct carbon emissions in the Spanish hotel sector

IF 8.3 1区管理学 Q1 HOSPITALITY, LEISURE, SPORT & TOURISM

International Journal of Hospitality Management Pub Date : 2026-04-01 Epub Date: 2026-01-13 DOI:10.1016/j.ijhm.2025.104551

Christian Hernández-Guedes , Jorge V. Pérez-Rodríguez , José M. Pérez-Sánchez

{"title":"Into the unknown: Shadow prices associated with direct carbon emissions in the Spanish hotel sector","authors":"Christian Hernández-Guedes , Jorge V. Pérez-Rodríguez , José M. Pérez-Sánchez","doi":"10.1016/j.ijhm.2025.104551","DOIUrl":null,"url":null,"abstract":"<div><div>This paper estimates the efficiency of hotels considering their direct carbon emissions as undesirable outputs. Furthermore, we estimate the shadow prices associated with these pollutants, which represent the additional investments necessary to reduce them. We apply a Bayesian random parameters approach, which enables us to account for the technological heterogeneity existent in the sector. This method allows us to estimate not only hotel efficiency but also the aforementioned shadow prices. Our empirical sample comprises 156 Spanish hotels for the year 2021. Results show that the selected model correctly handles the presence of technological heterogeneity and the incorporation of carbon emissions. Although the efficiency of Spanish hotels is high, the shadow prices of the direct carbon emissions are other than zero. Therefore, Spanish hoteliers should invest to decrease their emissions. Some practical implications are given based on these results.</div></div>","PeriodicalId":48444,"journal":{"name":"International Journal of Hospitality Management","volume":"134 ","pages":"Article 104551"},"PeriodicalIF":8.3000,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Hospitality Management","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0278431925004797","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2026/1/13 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"HOSPITALITY, LEISURE, SPORT & TOURISM","Score":null,"Total":0}

引用次数: 0

Abstract

This paper estimates the efficiency of hotels considering their direct carbon emissions as undesirable outputs. Furthermore, we estimate the shadow prices associated with these pollutants, which represent the additional investments necessary to reduce them. We apply a Bayesian random parameters approach, which enables us to account for the technological heterogeneity existent in the sector. This method allows us to estimate not only hotel efficiency but also the aforementioned shadow prices. Our empirical sample comprises 156 Spanish hotels for the year 2021. Results show that the selected model correctly handles the presence of technological heterogeneity and the incorporation of carbon emissions. Although the efficiency of Spanish hotels is high, the shadow prices of the direct carbon emissions are other than zero. Therefore, Spanish hoteliers should invest to decrease their emissions. Some practical implications are given based on these results.

查看原文本刊更多论文

进入未知：与西班牙酒店业直接碳排放相关的影子价格

本文将酒店的直接碳排放作为不受欢迎的产出来估计其效率。此外，我们估计了与这些污染物相关的影子价格，这代表了减少它们所需的额外投资。我们采用贝叶斯随机参数方法，这使我们能够解释该部门存在的技术异质性。这种方法不仅可以让我们估算酒店的效率，还可以估算前面提到的影子价格。我们的实证样本包括2021年的156家西班牙酒店。结果表明，所选择的模型正确地处理了技术异质性的存在和碳排放的加入。虽然西班牙酒店的效率很高，但直接碳排放的影子价格并非为零。因此，西班牙酒店经营者应该投资减少排放。根据这些结果，给出了一些实际意义。

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

International Journal of Hospitality Management HOSPITALITY, LEISURE, SPORT & TOURISM-

CiteScore

21.20

自引率

9.40%

发文量

218

审稿时长

85 days

期刊介绍： The International Journal of Hospitality Management serves as a platform for discussing significant trends and advancements in various disciplines related to the hospitality industry. The publication covers a wide range of topics, including human resources management, consumer behavior and marketing, business forecasting and applied economics, operational management, strategic management, financial management, planning and design, information technology and e-commerce, training and development, technological developments, and national and international legislation. In addition to covering these topics, the journal features research papers, state-of-the-art reviews, and analyses of business practices within the hospitality industry. It aims to provide readers with valuable insights and knowledge in order to advance research and improve practices in the field. The journal is also indexed and abstracted in various databases, including the Journal of Travel Research, PIRA, Academic Journal Guide, Documentation Touristique, Leisure, Recreation and Tourism Abstracts, Lodging and Restaurant Index, Scopus, CIRET, and the Social Sciences Citation Index. This ensures that the journal's content is widely accessible and discoverable by researchers and practitioners in the hospitality field.