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Quality of ski resorts and competition between the Emilian Apennines and Altipiani Trentini. An estimate of the hedonic price

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  • Alessandrini, Sergio

Abstract

We use the hedonic framework to estimate and simulate the hedonic ticket prices of 19 ski resorts in the Emilian Apennines and Altipiani Trentini. To do so, we combine data on lift facilities and slopes from several sources as well as climatic data and characteristics of the ski resorts over the 2008‐2011 winter seasons. Hedonic linear and logarithmic regression models are estimated for weekdays and weekends ticket prices. Our robust regression of changes in hedonic prices with respect to the characteristic of the ski resorts yield precise and consistent estimates of positive effects on ticket prices. We find that willingness to pay (WTP) for the length of winter season tends to be higher than transport capacity, length and the altitude of the slopes or the other characteristic of the chairlifts and ski runs. Then, we use our estimates to predict the ticket price level as a measure of the quality of the ski resort. We found that the perception of skiers is very selective and their choices are based on the characteristic of the ski resort.

Suggested Citation

  • Alessandrini, Sergio, 2012. "Quality of ski resorts and competition between the Emilian Apennines and Altipiani Trentini. An estimate of the hedonic price," MPRA Paper 37237, University Library of Munich, Germany, revised 02 Feb 2012.
    • Handle: RePEc:pra:mprapa:37237
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    References listed on IDEAS

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    1. Stefan Borsky & Paul A. Raschky, 2009. "The Hedonics of Hedonism – Estimating the Value of Risk‐Taking Activities," Kyklos, Wiley Blackwell, vol. 62(2), pages 210-225, April.
    2. James G. Mulligan, 2006. "Endogenously determined Quality and Price In a Two-Sector Competitive Service Market With an Application to Down-Hill Skiing," Working Papers 06-01, University of Delaware, Department of Economics.
    3. Martin Falk, 2011. "International Price Differences in Ski Lift Tickets," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 147(III), pages 303-336, September.
    4. Jamie Sanderson & Sardar M. N. Islam, 2007. "Climate Change and Economic Development," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-59012-0, October.
    5. Barro, Robert J & Romer, Paul M, 1987. "Ski-Lift Pricing, with Applications to Labor and Other," American Economic Review, American Economic Association, vol. 77(5), pages 875-890, December.
    6. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    7. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74(2), pages 132-132.
    8. Tim Pawlowski & Christoph Breuer, 2010. "The Monetary Value of Winter Sport Services in the European Alps," Working Papers 1003, International Association of Sports Economists;North American Association of Sports Economists.
    9. James G. Mulligan & Emmanuel Llinares, 2003. "Market Segmentation and the Diffusion of Quality-Enhancing Innovations: The Case of Downhill Skiing," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 493-501, August.
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    Cited by:

    1. Wolff, François-Charles, 2014. "Lift ticket prices and quality in French ski resorts: Insights from a non-parametric analysis," European Journal of Operational Research, Elsevier, vol. 237(3), pages 1155-1164.
    2. François-Charles Wolff, 2014. "Lift ticket prices and quality in French ski resorts: Insights from a non-parametric analysis," Working Papers hal-00952999, HAL.

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    More about this item

    Keywords

    Hedonic price; ski resorts; Emilian Apennines; predicted prices;
    All these keywords.

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis

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