Using brochure information for the hedonic analysis of holiday packages

• Stephan Haroutunian ^[1] ; Pandelis Mitsis ^[1] ; Panos Pashardes ^[1]
  1. [1] University of Cyprus

     University of Cyprus

     Chipre

     
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 11, Nº 1, 2005, págs. 69-84
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • This paper investigates the production of misleading results from hedonic analysis when heterogeneity in the effects of quality characteristics is ignored. Two causes of such heterogeneity are examined: (a) when quality is registered in different ways in the brochures of different tour operators and (b) when the effects of quality characteristics differ between packages with a different star rating. Furthermore, the authors test the impact of the presence of these two sources of heterogeneity on the estimated effects of quality characteristics on price, along with a third possible source of heterogeneity � the rating system of the hotels. They then discuss the policy implications of their empirical findings.