Measuring the effect of local competition on prices in a context of spatial differentiation
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Title
Measuring the effect of local competition on prices in a context of spatial differentiationDate
2011-07Publisher
SpringerISSN
1864-4031; 1864-404XBibliographic citation
Letters in Spatial and Resource Sciences (July 2011), vol. 4, no. 2, 109-116Type
info:eu-repo/semantics/articleVersion
info:eu-repo/semantics/submittedVersionAbstract
This paper examines the problem of estimation bias when the effect of local competition on prices is investigated. The hotel industry was chosen as a representative case of industries that offer a spatially differen ... [+]
This paper examines the problem of estimation bias when the effect of local competition on prices is investigated. The hotel industry was chosen as a representative case of industries that offer a spatially differentiated product. It is shown that, in this context, including spatial variables as controls can be especially useful for reducing bias in the cross-sectional estimator. We also show how our results are robust to alternative size definitions for geographically relevant markets. [-]
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- ECO_Articles [692]