Table 2.
Descriptive statistics.
| Variable Group | Variable | Mean | Std. Dev. | Min | Max |
|---|---|---|---|---|---|
| Dependent Variable | Average Weekly Price (AWP) (i,t) | 100.52 | 80.03 | 20.14 | 754.43 |
| Explanatory and Instrumented Variable | Local Airbnb Demand (LAD) (i,250 m,t) | 65.78 | 118.99 | 1.00 | 1030.43 |
| Local Airbnb Demand (LAD) (i,500 m,t) | 188.48 | 348.00 | 1.00 | 2386.57 | |
| Local Airbnb Demand (LAD) (i,750 m,t) | 344.83 | 634.73 | 1.00 | 3963.86 | |
| Local Airbnb Demand (LAD) (i,1000 m,t) | 510.67 | 924.65 | 1.00 | 5206.57 | |
| Instrumental Variable | COVID-19 Stringency Index (CSI) (t,g) * | 55.56 | 12.93 | 2.97 | 96.30 |
| Spatial Controls | Average Market Price (i,250 m,t) | 78.83 | 68.96 | 0.00 | 748.86 |
| Average Market Price (i,500 m,t) | 88.28 | 65.08 | 0.00 | 748.86 | |
| Average Market Price (i,750 m,t) | 92.50 | 62.31 | 0.00 | 748.86 | |
| Average Market Price (i,1000 m,t) | 95.35 | 60.62 | 0.00 | 735.29 | |
| Number of Competitors (i,250 m) | 15.77 | 27.46 | 0.00 | 180.00 | |
| Number of Competitors (i,500 m) | 48.16 | 81.76 | 0.00 | 476.00 | |
| Number of Competitors (i,750 m) | 89.40 | 150.01 | 0.00 | 787.00 | |
| Number of Competitors (i,1000 m) | 133.46 | 219.52 | 0.00 | 1033.00 | |
| Macroeconomic Controls | RGDP (i,g,t) | 28,155.79 | 9071.53 | 6600.00 | 83,640.00 |
| CPI(i,g,t) | 111.74 | 3.50 | 99.55 | 127.04 | |
| Property-Level Controls | Beds(i) | 4.18 | 2.65 | 1.00 | 16.00 |
| Photos(i) | 24.00 | 17.05 | 1.00 | 286.00 | |
| Host's Properties(i) | 3.23 | 9.19 | 1.00 | 619.00 | |
| Multiplatform(i) | 0.12 | – | 0 | 1 | |
| Experience (i,t) | 163.60 | 89.38 | 0.00 | 587.00 | |
| Cancellation Policy(i) | 0.86 | – | 0 | 1 | |
| Instantbook(i) | 0.69 | – | 0 | 1 | |
| MidLong Rent(i) | 0.001 | – | 0 | 1 |
Notes: a) Data Sources: AirDNA, Eurostat, ECB, Our World in Data. b) Subscripts: i = Property, t = Time (Year-Week), g = Country, 250 m/500 m/750 m/1000 m = Radius r defining the relevant market. c) The table was generated by means of Stata 17 (command sum). d) * = The descriptive statistics are provided from t=63 onwards.