Economics

Evaluating information asymmetry effects on hotel pricing: a comparative analysis before and during the COVID-19 pandemic in the Taiwan's market

M. Wang and L. Chou

This study by Meng-Ying Wang and Li-Chen Chou reveals a significant shift in Taiwan's tourist hotel pricing dynamics amidst the COVID-19 pandemic. The research uncovers a notable reduction in information asymmetry between consumers and hoteliers, fostering a more transparent market environment. Dive into the findings that highlight the pandemic's influence on pricing strategies in the hotel industry.

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Playback language: English

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Abstract

This study used a two-tier stochastic frontier model to examine the distribution of transaction information in Taiwan's tourist hotel lodging prices from July 2019 to November 2020. The research analyzed price information disparities between consumers and hoteliers before and after the COVID-19 outbreak. Findings showed a significant reduction in price information divergence after the outbreak, especially in metropolitan areas. The pandemic's impact on consumer group structures within hotel operations influenced hoteliers' pricing strategies. The study concludes that COVID-19 fostered a more transparent market price information environment, lessening information asymmetry between hoteliers and consumers.

Publisher

Humanities and Social Sciences Communications

Published On

Jan 08, 2024

Authors

Meng-Ying Wang, Li-Chen Chou

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