J 2020

PRICE ELASTICITY OF DEMAND FOR ACCOMODATION SERVICES – EMPIRICAL APPLICATION IN PRAGUE

PETŘÍČEK, Martin and Štěpán CHALUPA

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

Článek v odborném periodiku

Confidentiality degree

není předmětem státního či obchodního tajemství

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
Změněno: 15/12/2020 08:00, Ing. Štěpán Chalupa, Ph.D.

Abstract

ORIG EN

V originále

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.

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.
Displayed: 27/12/2024 08:40