PETŘÍČEK, Martin and Štěpán CHALUPA. PRICE ELASTICITY OF DEMAND FOR ACCOMODATION SERVICES – EMPIRICAL APPLICATION IN PRAGUE. AD ALTA: JOURNAL OF INTERDISCIPLINARY RESEARCH. HRADEC KRALOVE: MAGNANIMITAS, 2020, vol. 10, No 1, p. 221-224. ISSN 1804-7890. Available from: https://dx.doi.org/10.33543/1001.
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Basic information
Original name PRICE ELASTICITY OF DEMAND FOR ACCOMODATION SERVICES – EMPIRICAL APPLICATION IN PRAGUE
Name (in English) PRICE ELASTICITY OF DEMAND FOR ACCOMODATION SERVICES – EMPIRICAL APPLICATION IN PRAGUE
Authors PETŘÍČEK, Martin and Štěpán CHALUPA.
Edition AD ALTA: JOURNAL OF INTERDISCIPLINARY RESEARCH, HRADEC KRALOVE, MAGNANIMITAS, 2020, 1804-7890.
Other information
Type of outcome Article in a journal
Confidentiality degree is not subject to a state or trade secret
Organization unit University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
Doi http://dx.doi.org/10.33543/1001
UT WoS 000562038200037
Keywords in English Price Elasticity, Demand, Price Optimization, Consumer Behavior
Tags International impact, Reviewed
Changed by Changed by: Ing. Štěpán Chalupa, Ph.D., učo 10522. Changed: 15/12/2020 08:00.
Abstract
The paper focuses on the issue of measuring price elasticity of demand. Research has available a significant data sample on a daily basis in the segment of accommodation services since 2005 in the Czech Republic. The aim of the paper is to evaluate the development of consumer behaviour (measured by price elasticity) in the monitored segment from 2005 to the year 2017. For the calculation of price elasticity log-log regression analysis is used. The data is available daily, and therefore the resulting elasticity in the article is compared to several levels (working days, weekdays, summer months). One of the primary outputs in the research is that price elasticity is relatively stable in the monitored levels over time but has changed significantly over the long-term period.
Abstract (in English)
The paper focuses on the issue of measuring price elasticity of demand. Research has available a significant data sample on a daily basis in the segment of accommodation services since 2005 in the Czech Republic. The aim of the paper is to evaluate the development of consumer behaviour (measured by price elasticity) in the monitored segment from 2005 to the year 2017. For the calculation of price elasticity log-log regression analysis is used. The data is available daily, and therefore the resulting elasticity in the article is compared to several levels (working days, weekdays, summer months). One of the primary outputs in the research is that price elasticity is relatively stable in the monitored levels over time but has changed significantly over the long-term period.
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