https://hdl.handle.net/10438/18120 2021-12-04T04:05:44Z 2021-12-04T04:05:44Z Wu, Edson An An https://hdl.handle.net/10438/16568 2018-08-23T13:13:26Z 2016-01-01T00:00:00Z

Learning in peer-to-peer markets: evidence from Airbnb Wu, Edson An An 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.

2016-01-01T00:00:00Z