Table A2.
Price elasticity of demand for Airbnb listings in London and Beijing.
| Paris |
Barcelona |
Milan |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 |
2020 |
2021 |
2019 |
2020 |
2021 |
2019 |
2020 |
2021 |
||||||||||
| Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | |
| January | −0.398*** | −0.243*** | −0.445*** | −0.208*** | −0.0522 | −0.100* | −0.439*** | −0.141*** | −0.402*** | −0.177*** | −0.805* | 0.0105 | −0.544*** | −0.158*** | −0.885*** | −0.210** | −1.025** | 0.162 |
| (0.121) | (0.0320) | (0.131) | (0.0290) | (0.244) | (0.0523) | (0.111) | (0.0432) | (0.112) | (0.0358) | (0.416) | (0.0762) | (0.119) | (0.0580) | (0.140) | (0.0835) | (0.440) | (0.129) | |
| February | −0.613*** | −0.379*** | −0.310*** | −0.164*** | −0.405* | 0.0298 | −0.933*** | −0.337*** | −0.373*** | −0.0501* | 0.500 | 0.191*** | −0.587*** | −0.265*** | −0.573*** | −0.223*** | −0.914** | 0.253** |
| (0.139) | (0.0341) | (0.108) | (0.0239) | (0.241) | (0.0512) | (0.109) | (0.0300) | (0.0913) | (0.0263) | (0.393) | (0.0505) | (0.107) | (0.0570) | (0.0840) | (0.0521) | (0.414) | (0.115) | |
| March | −0.0423 | −0.0277 | −0.183 | −0.00382 | −0.814*** | 0.0725 | −0.285*** | −0.230*** | −0.106 | −0.0525 | −0.818** | 0.280*** | −0.546*** | −0.356*** | 0 | 0.00284 | −1.363*** | 0.338** |
| (0.181) | (0.0426) | (0.126) | (0.0293) | (0.265) | (0.0529) | (0.0825) | (0.0251) | (0.109) | (0.0339) | (0.396) | (0.0476) | (0.119) | (0.0761) | (0) | (0.00364) | (0.431) | (0.148) | |
| AprIl | −0.267*** | −0.216*** | −0.319*** | 0.0948** | −0.418 | 0.0340 | −0.368*** | −0.305*** | −0.215** | 0.106*** | −0.200 | 0.363*** | −0.547*** | −0.139*** | −0.440*** | −0.02 | −1.126** | 0.153 |
| (0.0972) | (0.0211) | (0.123) | (0.0434) | (0.275) | (0.0610) | (0.0659) | (0.0243) | (0.0980) | (0.0364) | (0.339) | (0.0407) | (0.0765) | (0.0505) | (0.145) | (0.138) | (0.439) | (0.138) | |
| May | −0.283*** | −0.165*** | −0.536*** | 0.162*** | −0.380*** | −0.227*** | −0.192 | 0.158*** | −0.750*** | −0.249*** | −0.937*** | −0.028 | ||||||
| (0.0929) | (0.0231) | (0.136) | (0.0534) | (0.0603) | (0.0237) | (0.140) | (0.0401) | (0.0880) | (0.0472) | (0.170) | (0.128) | |||||||
| June | −0.196*** | −0.0455*** | −0.649*** | −0.0397 | −0.914** | −0.231*** | −0.421*** | −0.181*** | −0.518*** | −0.0638 | −0.364 | 0.0398 | −0.647*** | −0.324*** | −0.882*** | −0.0670 | −1.573** | −0.343** |
| (0.0716) | (0.0144) | (0.0925) | (0.0330) | (0.357) | (0.0883) | (0.0606) | (0.0200) | (0.130) | (0.0755) | (0.400) | (0.0806) | (0.0743) | (0.0457) | (0.127) | (0.0734) | (0.730) | (0.162) | |
| July | −0.161*** | 0.0267 | −0.326*** | −0.0722*** | −0.945** | −0.238*** | −0.278*** | −0.267*** | −0.376*** | −0.171*** | −0.435 | −0.00285 | −0.566*** | −0.204*** | −0.529 | −0.0750 | ||
| (0.0581) | (0.0182) | (0.0593) | (0.0279) | (0.366) | (0.0829) | (0.0591) | (0.0220) | (0.0895) | (0.0511) | (0.363) | (0.0771) | (0.0797) | (0.0461) | (0.391) | (0.138) | |||
| August | −0.314*** | −0.145*** | −0.351*** | −0.0457** | −1.334*** | −0.263*** | −0.375*** | −0.196*** | −0.201*** | 0.00467 | −0.656** | 0.0602 | −0.442*** | 0.0311 | −0.724*** | 0.0963 | −0.838*** | −0.234** |
| (0.0306) | (0.0175) | (0.0317) | (0.0213) | (0.303) | (0.0661) | (0.0477) | (0.0202) | (0.0581) | (0.0431) | (0.303) | (0.0679) | (0.0677) | (0.0457) | (0.101) | (0.0614) | (0.281) | (0.118) | |
| London |
Beijing |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 |
2020 |
2021 |
2019 |
2020 |
2021 |
|||||||
| Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | Budget | Luxury | |
| January | −0.719*** | −0.304*** | −0.666*** | −0.195*** | −0.895*** | 0.006 | −0.293*** | −0.0671* | −0.202*** | −0.164*** | −0.174 | −0.112 |
| (0.0661) | (0.0340) | (0.0663) | (0.0304) | (0.214) | (0.072) | (0.110) | (0.0403) | (0.0929) | (0.0385) | (0.217) | (0.103) | |
| February | −0.966*** | −0.371*** | −0.576*** | −0.360*** | −0.725*** | 0.004 | −0.270*** | −0.128*** | −0.211* | −0.197*** | −0.731*** | −0.258** |
| (0.0709) | (0.0313) | (0.0493) | (0.0275) | (0.224) | (0.070) | (0.101) | (0.0359) | (0.126) | (0.0594) | (0.255) | (0.120) | |
| March | −0.821*** | −0.246*** | −0.355*** | −0.192*** | −0.304 | 0.105 | −0.288*** | −0.151*** | 0 | 0 | −0.103 | −0.158* |
| (0.0649) | (0.0320) | (0.0584) | (0.0345) | (0.243) | (0.064) | (0.0712) | (0.0310) | (0) | (0) | (0.207) | (0.095) | |
| April | −0.717*** | −0.279*** | −0.130*** | −0.00203 | −0.881*** | 0.090 | −0.275*** | −0.0247 | −0.001 | 0.0192 | 0.050 | 0.019 |
| (0.0505) | (0.0213) | (0.0356) | (0.0194) | (0.238) | (0.061) | (0.0753) | (0.0293) | (0.0055) | (0.0188) | (0.156) | (0.080) | |
| May | −0.639*** | −0.310*** | −0.241*** | −0.0176 | −0.132** | −0.125*** | 0.00962 | 0.00894 | ||||
| (0.0558) | (0.0243) | (0.0361) | (0.0112) | (0.0585) | (0.0208) | (0.00802) | (0.00696) | |||||
| June | −0.594*** | −0.113*** | 0.0301*** | 0.0126*** | −0.478 | 0.107 | −0.0600 | −0.112*** | −0.00858 | −0.0702*** | ||
| (0.0443) | (0.0161) | (0.00842) | (0.00382) | (0.296) | (0.078) | (0.0470) | (0.0181) | (0.0295) | (0.0162) | |||
| July | −0.482*** | −0.0889*** | −0.731*** | 0.078 | −0.160*** | −0.151*** | −0.025 | −0.066 | ||||
| (0.0369) | (0.0138) | (0.253) | (0.073) | (0.0431) | (0.0216) | (0.165) | (0.092) | |||||
| August | −0.719*** | −0.476*** | −0.321*** | −0.0488*** | −0.640*** | −0.053 | −0.360*** | −0.0813*** | −0.071 | 0.234*** | ||
| (0.0661) | (0.0282) | (0.0330) | (0.0180) | (0.229) | (0.065) | (0.0396) | (0.0198) | (0.212) | (0.088) | |||