Key Factors Affecting the Price of Airbnb Listings: A Geographically Weighted Approach
AbstractAirbnb has been increasingly gaining popularity since 2008 due to its low prices and direct interactions with the local community. This paper employed a general linear model (GLM) and a geographically weighted regression (GWR) model to identify the key factors affecting Airbnb listing prices using data sets of 794 samples of Airbnb listings of business units in Metro Nashville, Tennessee. The results showed that the GWR model performs better than the GLM in terms of accuracy and affected variable selections. Statistically significant differences varied across regions in Metro Nashville. The coefficients illustrate a decreasing trend while there is an increase in the distance from the listed units to the convention center, which indicates that Airbnb listing prices are more sensitive to the distance from the convention center in the central area than in other areas. These findings can also provide implications for stakeholders such as Airbnb hosts to gain a better understanding of the market situation and formulate a suitable pricing strategy. View Full-Text
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Zhang, Z.; Chen, R.J.C.; Han, L.D.; Yang, L. Key Factors Affecting the Price of Airbnb Listings: A Geographically Weighted Approach. Sustainability 2017, 9, 1635.
Zhang Z, Chen RJC, Han LD, Yang L. Key Factors Affecting the Price of Airbnb Listings: A Geographically Weighted Approach. Sustainability. 2017; 9(9):1635.Chicago/Turabian Style
Zhang, Zhihua; Chen, Rachel J.C.; Han, Lee D.; Yang, Lu. 2017. "Key Factors Affecting the Price of Airbnb Listings: A Geographically Weighted Approach." Sustainability 9, no. 9: 1635.
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