Using Brochure Information for the Hedonic Analysis of Holiday Packages

Stephan Haroutunian, Pandelis Mitsis and Panos Pashardes
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Stephan Haroutunian: Economics Research Centre, University of Cyprus, PO Box 20537, 1678 Nicosia, Cyprus
Pandelis Mitsis: Economics Research Centre, University of Cyprus

Tourism Economics, 2005, vol. 11, issue 1, 69-84

Abstract: 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.

Keywords: hedonic pricing; heterogeneous characteristics; holiday brochures; tour operators; Mediterranean (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:11:y:2005:i:1:p:69-84

DOI: 10.5367/0000000053297158

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