[Dmbu-l] Practice talk

Davide Proserpio dproserp at bu.edu
Fri Sep 11 16:42:46 EDT 2015


Hi All,


In a couple of weeks I have my first ever job talk at USC and I  would
really appreciate your help.

I am planning on giving a practice talk Tuesday at 4pm to 5:30pm  (room TBD)

Title:
The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the
Hotel Industry
Abstract:
A number of decentralized peer-to-peer markets, now colloquially known as
the sharing economy, have emerged as alternative suppliers of goods and
services traditionally provided by long-established industries. A central
question surrounding the sharing economy regards its long-term impact: will
peer-to-peer platforms materialize as viable mainstream alternatives to
traditional providers, or will they languish as niche markets? In this
paper, we study Airbnb, a sharing economy pioneer offering short  term
accommodation. Combining data from Airbnb and the Texas hotel industry, we
estimate the impact of Airbnb’s entry into the Texas market on hotel room
revenue, and study the market response of hotels. To identify Airbnb’s
causal impact on hotel room revenue, we use a difference-in-differences
empirical strategy that exploits the significant spatiotemporal variation
in the patterns of Airbnb adoption across city-level markets. We estimate
that in Austin, where Airbnb supply is highest, the impact on hotel revenue
is roughly 8-10%. We find that Airbnb’s impact is non-uniformly
distributed, with lower-priced hotels, and hotels not catering to business
travel being the most affected segments. Finally, we find that affected
hotels have responded by reducing prices, an impact that benefits all
consumers, not just participants in the sharing economy. Our work provides
empirical evidence that the sharing economy is making inroads by
successfully competing with, and acquiring market share from, incumbent
firms.

-- 
Davide Proserpio
Computer Science, Boston University
http://cs-people.bu.edu/dproserp/
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