Measuring the effect of local competition on prices in a context of spatial differentiation
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Títol
Measuring the effect of local competition on prices in a context of spatial differentiationData de publicació
2011-07Editor
SpringerISSN
1864-4031; 1864-404XCita bibliogràfica
Letters in Spatial and Resource Sciences (July 2011), vol. 4, no. 2, 109-116Tipus de document
info:eu-repo/semantics/articleVersió
info:eu-repo/semantics/submittedVersionParaules clau / Matèries
Resum
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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