Search results for "Quality level"
showing 3 items of 3 documents
Sharing economy and dynamic pricing: Is the impact of Airbnb on the hotel industry time-dependent?
2021
Abstract Prior literature has reported significant price and revenue reductions in the hotel industry due to the emergence of Airbnb. Other studies have documented that hotels' price reactions to the penetration of Airbnb depend on their service level, e.g., low/medium-end versus high end. Relying on a large sample from the Italian market, we contribute by showing that the effect of Airbnb on hotels' price decisions does not only depend on incumbents’ quality level, but also on the difference between booking and check-in time. That is, the effect of the penetration of Airbnb on hotels' dynamic price decisions varies over time depending on the core segment hotels target.
Effect of consumers’ origin on perceived sensory quality, liking and liking drivers: A cross-cultural study on European cheeses
2021
Abstract We aim at studying consumers’ Perceived Sensory Quality (PSQ) concept. We manipulated a priori both familiarity (contrast local vs. foreign cheeses) and quality level (contrast PDO or traditional cheeses vs. their non-PDO and/or industrial counterpart). The study was run in four European countries. Thus, eight cheeses (one PDO or traditional cheese and one non-PDO cheese from each of the four European countries) were assessed by a total of 438 consumers (from 100 to 120 consumers from each region) in terms of PSQ and liking. The cheeses were also described by a trained panel. PSQ depended on both consumers’ and cheeses’ origin. The main finding is that in the three countries with P…
Expectation Damages and Bilateral Cooperative Investments
2012
We examine the efficiency of the standard breach remedy expectation damages in a setting where the buyer invests cooperatively and the seller invests both cooperatively and selfishly. Contracts may specify a required quality level and an upper bound to the seller's coordination costs. We find that it is optimal to write an augmented Cadillac contract in which quality is stipulated such that it cannot be met with positive probability together with a very low price. Thus, the seller becomes a residual claimant and the coordination-cost threshold can be used to balance the incentives of the buyer.