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Revenue Maximization of Airbnb Marketplace using Search Results [article]

Jiawei Wen, Hossein Vahabi, Mihajlo Grbovic
2019 arXiv   pre-print
We applied our solution to large-scale search data obtained from Airbnb Experiences marketplace.  ...  Offline evaluation results show that our strategy improves upon baseline pricing strategies on key metrics by at least +20% in terms of booking regret and +55% in terms of revenue potential.  ...  We used 6 months of anonymized search data from Airbnb Experiences marketplace to test our new pricing strategy, which aims to maximize revenue for the marketplace.  ... 
arXiv:1911.05887v2 fatcat:sxpifcz2bvg6pakgdwftmdvei4

Limiting Bias from Test-Control Interference in Online Marketplace Experiments [article]

David Holtz, Sinan Aral
2020 arXiv   pre-print
Using a simulation built on top of data from Airbnb, this paper considers the use of methods from the network interference literature for online marketplace experimentation.  ...  On the other hand, the use of more sophisticated estimators produces mixed results.  ...  In this study, we are able to cluster Airbnb listings based on the same listing-level covariates used by both search algorithms and searchers.  ... 
arXiv:2004.12162v1 fatcat:phj4ra6nifctdgr4eltpvht2e4

Limiting Bias from Test-Control Interference in Online Marketplace Experiments

David Holtz, Sinan Aral
2020 Social Science Research Network  
Using a simulation built on top of scraped Airbnb data, this paper considers the use of experiment designs and ATE estimators from the network interference literature for online marketplace experimentation  ...  Previous work has found evidence of bias due to test-control interference in online marketplace experiments.  ...  Each set of simulated outcomes is generated using the following steps: The process above simplifies Airbnb marketplace dynamics in countless ways.  ... 
doi:10.2139/ssrn.3583596 fatcat:3iq7jeok3fdxhjo7kx3xfwfmba

Personal or Product Reputation? Optimizing Revenues in the Sharing Economy

Graziano Abrate, Giampaolo Viglia
2017 Journal of Travel Research  
The study proposes a revenue model where, given a frontier that depends on the shared assets, the maximization of revenues depends on reputational factors of the person and of the product.  ...  These results emphasize the role of trust and personal branding strategies in peer-to-peer platforms.  ...  Parties operating in sharing economy platforms are incentivized to use reputation-signaling mechanisms to maximize the likelihood of a successful transaction.  ... 
doi:10.1177/0047287517741998 fatcat:x4evbg475feilodajdjhid34ci

Economists (and Economics) in Tech Companies

Susan Athey, Michael Luca
2019 Journal of Economic Perspectives  
Athey and Ellison (2011) incorporate rational consumer search into the market design of auctions, motivating the use of reserve price not only as an instrument for raising revenue, but also as a tool  ...  to change its reserve price policies for all of its search advertising-and making the company millions of dollars in additional revenue.  ... 
doi:10.1257/jep.33.1.209 fatcat:4yctxtpoc5ez5pleomnej3s5am

Location, location and professionalization: a multilevel hedonic analysis of Airbnb listing prices and revenue

Robbin Deboosere, Danielle Jane Kerrigan, David Wachsmuth, Ahmed El-Geneidy
2019 Regional Studies, Regional Science  
professionalization of the short-term rental market is driving more revenue to a narrower segment of hosts.  ...  Relying on a web-scraped data set of all Airbnb transactions in New York City (NYC) between August 2014 and September 2016, this paper presents the first hedonic regression model of Airbnb to take into  ...  Thanks also to Andrew Owen (University of Minnesota) and David Levinson (University of Sydney) for providing the accessibility measures from the Access Across America project.  ... 
doi:10.1080/21681376.2019.1592699 fatcat:r3vmkaz4ffb57cuesqtdds32f4

Reducing Interference Bias in Online Marketplace Pricing Experiments [article]

David Holtz, Ruben Lobel, Inessa Liskovich, Sinan Aral
2020 arXiv   pre-print
In this work, we measure and reduce bias due to interference in online marketplace experiments by using observational data to create clusters of similar listings, and then using those clusters to conduct  ...  Online marketplace designers frequently run A/B tests to measure the impact of proposed product changes.  ...  We also thank numerous other Airbnb employees who have assisted with this project. We also appreciate the helpful feedback we have received from Dean Eckles,  ... 
arXiv:2004.12489v1 fatcat:riet2dhebnajtk27irw3byy6ee

Pricing Strategies of Porto's Airbnb New Listings

Oana Ruxandra Bode, Valentin Toader, Rozalia Veronica Rus
2022 International Conference on Tourism Research  
The present paper uses information from the new listings in 2020 to investigate different hypotheses that explore the pricing strategies of Airbnb hosts for their new listings on the market.  ...  Some Airbnb hosts have a long run approach, charging lower prices to attract more customers and achieve higher occupancy rates, while others have a short-run approach, charging higher prices to maximize  ...  Acknowledgements Valentin Toader, Oana Ruxandra Bode and Rozalia Veronica Rus acknowledge that the publication of this article was supported by the 2021 Development Fund of the Babeș-Bolyai University.  ... 
doi:10.34190/ictr.15.1.249 fatcat:jjw4in6snvdtngy5hla7wv5dwq

Agent Behavior in the Sharing Economy: Evidence from Airbnb

Jun Li, Antonio Moreno, Dennis J. Zhang
2015 Social Science Research Network  
Using a data set of prices and availability of listings on Airbnb, we find that there exist substantial differences in the operational and financial performance of professional and nonprofessional hosts  ...  We develop a parsimonious model to analyze the implications of having two such different host groups for a profit-maximizing platform operator and for a social planner.  ...  For example, Zervas et al. (2014) study the effects of Airbnb on hotel revenues, Fradkin (2014) analyzes the consequences of search frictions using internal data from Airbnb, and Edelman et al. (2015  ... 
doi:10.2139/ssrn.2708279 fatcat:gp25hmlh7zflxfouftpjuktkcq

Optimal Search Segmentation Mechanisms for Online Platform Markets [article]

Zhenzhe Zheng, R. Srikant
2019 arXiv   pre-print
Online platforms, such as Airbnb,, Amazon, Uber and Lyft, can control and optimize many aspects of product search to improve the efficiency of marketplaces.  ...  We extend our results to Cournot competition model, and show that the optimal search segmentation mechanisms for both social welfare maximization and revenue maximization also have simple threshold structures  ...  Amazon and Airbnb use the discriminatory control model, where the platforms only control the list of products to display for each buyer's search, and the potential matches and transaction prices are determined  ... 
arXiv:1908.07489v1 fatcat:zhtzz33co5d5pevgivf6x5ifwi

Understanding platform business models: A mixed methods study of marketplaces

Karl Täuscher, Sven M. Laudien
2018 European Management Journal  
While countless firms claim to offer the next 'Airbnb for X' or 'Uber for Y', we lack knowledge about the defining business model characteristics of these marketplaces.  ...  Marketplace like Airbnb or Uber offer such digital platforms to connect previously unmatched demand-side and supply-side participants through innovative forms of value creation, delivery and capture.  ...  In fact, only one firm in cluster 2 does not use any visible source of revenue at all.  ... 
doi:10.1016/j.emj.2017.06.005 fatcat:izg6wftqp5h4pfaekxp43v5tsi

Airbnb listings' performance: determinants and predictive models

Efstathios Kirkos
2021 European Journal of Tourism Research  
The present study analyzes Airbnb listings' performance in terms of occupancy rate, number of bookings and revenue, by employing data mining methodologies.  ...  The results and conclusions can be useful to individual hosts, professional listings' managers, as well as legislative and taxation authorities.  ...  We highlight that these results are in accordance with the findings concerning occupancy. Revenue The third class attribute used in the present study is revenue.  ... 
doi:10.54055/ejtr.v30i.2142 fatcat:juwfedhp3rap7iwbzn57sl62je

Platform Business: From Resources to Relationships

Marshall Van Alstyne, Geoffrey Parker
2017 GfK Marketing Intelligence Review  
Successful platforms seek to maximize the overall value of the whole system in a circular, revolving and feedback-driven process.  ...  Successful platforms put companies that use traditional business models at risk. Many companies are still highly competitive, but when platforms enter the same marketplace, the platforms usually win.  ...  Network effects gave us Alibaba, which accounts for over 75 % of Chinese e-commerce transactions; Google, which accounts for 82 % of mobile operating systems and 94 % of mobile search; and Facebook, the  ... 
doi:10.1515/gfkmir-2017-0004 fatcat:5mmsihswrjecfhcxg6kpwoszry

Categories and narratives as sources of distinctiveness: Cultural entrepreneurship within and across categories

Karl Taeuscher, Eric Yanfei Zhao, Michael Lounsbury
2022 Strategic Management Journal  
Our longitudinal study of 159,343 Airbnb listings in 45 categories strongly supports our hypotheses: the relationship between Airbnb listings' narrative distinctiveness and demand-side performance flips  ...  distinctive categories (a) provide an important source of differentiation for their members and (b) disproportionally attract those audience members that highly value novelty.  ...  An earlier version of this paper was nominated for the SMS Best Conference Paper Prize. DATA AVAILABILITY STATEMENT Research data are not shared.  ... 
doi:10.1002/smj.3391 fatcat:s42sejs2vzbtvikklgq57wfhue

Tilted platforms: rental housing technology and the rise of urban big data oligopolies

Geoff Boeing, Max Besbris, David Wachsmuth, Jake Wegmann
2021 Urban Transformations  
This article interprets emerging scholarship on rental housing platforms—particularly the most well-known and used short- and long-term rental housing platforms—and considers how the technological processes  ...  The question of which data—and people—are hidden or marginalized on these platforms is just as important as the question of which data are available.  ...  those that would maximize hosts' revenue (e.g.  ... 
doi:10.1186/s42854-021-00024-2 pmid:34423256 pmcid:PMC8371600 fatcat:5oxaxwuwmfhedo5zwiwz5svqjy
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