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Identification of Consumer Behavior Based on Price Elasticity: A Case Study of the Prague Market of Accommodation Services

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F20%3A50017865" target="_blank" >RIV/62690094:18450/20:50017865 - isvavai.cz</a>

  • Alternative codes found

    RIV/25619161:_____/20:N0000037

  • Result on the web

    <a href="https://www.mdpi.com/2071-1050/12/22/9452" target="_blank" >https://www.mdpi.com/2071-1050/12/22/9452</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.3390/su12229452" target="_blank" >10.3390/su12229452</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    Identification of Consumer Behavior Based on Price Elasticity: A Case Study of the Prague Market of Accommodation Services

  • Original language description

    The article deals with customer behavior in the market of accommodation services. The main purpose of this article is to identify tourist behavior using their sensitivity to changes in the price, based on the data from 2011 to 2018. The results can help to understand the booking behaviors of tourists in the long term period, identify specific situations, and to improve the application of revenue management. Using simple log-log regression analysis, the daily performance data of 103 Prague hotels were analyzed, and the coefficient of price elasticity of demand was identified for various timeframes: low and high seasons, summer months, weekends and weekdays, and individual years. The results show that the coefficient of price elasticity of demand is decreasing. In the low season, the low price sensitivity is caused mainly by the high proportion of the non-yieldable leisure group segment, where fixed rates are created for tour operators more than a year in advance. In the high season, Giffen&apos;s paradox was identified in 2016 and shows the situation of customers expecting further growth of room rates. The Giffen paradox was identified only on specific dates of the year and was confirmed by year-to-year growth of the Average Daily Rate.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50204 - Business and management

Result continuities

  • Project

  • Continuities

    N - Vyzkumna aktivita podporovana z neverejnych zdroju

Others

  • Publication year

    2020

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Sustainability

  • ISSN

    2071-1050

  • e-ISSN

  • Volume of the periodical

    12

  • Issue of the periodical within the volume

    22

  • Country of publishing house

    CH - SWITZERLAND

  • Number of pages

    14

  • Pages from-to

    "Article Number: 9452"

  • UT code for WoS article

    000594609600001

  • EID of the result in the Scopus database

    2-s2.0-85096290635