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摘要
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This study investigates how localized competition, measured through service and spatial differentiation, influences price and demand dispersion among Airbnb listings in London. By applying monopolistic competition theory, this study aims to understand the heterogeneous effects of competition within peer-to-peer accommodation markets. Using a large panel dataset of Airbnb listings in London from 2017 to 2021, our findings show that service differentiation significantly increases both price and demand dispersion in the local market, supporting the role of differentiation under monopolistic competition. In contrast, spatial differentiation reduces price dispersion but increases demand dispersion, reflecting localized market segmentation effects. Thus, competition has a heterogeneous impact on pricing and demand for listing behavior in the local market. This study offers a novel application of monopolistic competition theory to the Airbnb market, highlighting the importance of localized dynamics. The findings reveal how differentiation strategies shape competitive outcomes in digital platform economies, specifically peer-to-peer accommodation markets. |
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