IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/37237.html
   My bibliography  Save this paper

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/37237/1/MPRA_paper_37237.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    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, December.
    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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    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.
    3. Stefan Borsky & Paul A. Raschky, "undated". "Estimating the Option Value of Exercising Risk-taking Behavior with the Hedonic Market Approach," Working Papers 2008-14, Faculty of Economics and Statistics, Universität Innsbruck.
    4. Loïc Lévi & Jean Jacques Nowak & Sylvain Petit & Hakim Hammadou, 2022. "Industrial legacy and hotel pricing: An application of spatial hedonic pricing analysis in Nord-Pas-de-Calais, France," Tourism Economics, , vol. 28(4), pages 870-898, June.
    5. Van Butsic & Ellen Hanak & Robert G. Valletta, 2008. "Climate change and asset prices: hedonic estimates for North American ski resorts," Working Paper Series 2008-12, Federal Reserve Bank of San Francisco.
    6. Robert C. Fonner & Robert P. Berrens, 2014. "A Hedonic Pricing Model of Lift Tickets for US Alpine Ski Areas: Examining the Influence of Crowding," Tourism Economics, , vol. 20(6), pages 1215-1233, December.
    7. Van Butsic & Ellen Hanak & Robert G. Valletta, 2011. "Climate Change and Housing Prices: Hedonic Estimates for Ski Resorts in Western North America," Land Economics, University of Wisconsin Press, vol. 87(1), pages 75-91.
    8. 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.
    9. 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.
    10. Trojanek, Radoslaw & Huderek-Glapska, Sonia, 2018. "Measuring the noise cost of aviation – The association between the Limited Use Area around Warsaw Chopin Airport and property values," Journal of Air Transport Management, Elsevier, vol. 67(C), pages 103-114.
    11. Shimizu, Chihiro, 2014. "How Are Property Investment Returns Determined? : Estimating the Micro-Structure of Asset Prices, Property Income, and Discount Rates," HIT-REFINED Working Paper Series 12, Institute of Economic Research, Hitotsubashi University.
    12. Dan Horsky & Sanjog Misra & Paul Nelson, 2006. "Observed and Unobserved Preference Heterogeneity in Brand-Choice Models," Marketing Science, INFORMS, vol. 25(4), pages 322-335, 07-08.
    13. Ilir Nase & Jim Berry & Alastair Adair, 2016. "Impact of quality-led design on real estate value: a spatiotemporal analysis of city centre apartments," Journal of Property Research, Taylor & Francis Journals, vol. 33(4), pages 309-331, October.
    14. Laura Blow & Martin Browning & Ian Crawford, 2004. "Nonparametric methods for the characteristic model," CeMMAP working papers 18/04, Institute for Fiscal Studies.
    15. Marco Helbich & Wolfgang Brunauer & Eric Vaz & Peter Nijkamp, 2014. "Spatial Heterogeneity in Hedonic House Price Models: The Case of Austria," Urban Studies, Urban Studies Journal Limited, vol. 51(2), pages 390-411, February.
    16. Frondel, Manuel & Kussel, Gerhard & Sommer, Stephan & Vance, Colin, 2019. "Local cost for global benefit: The case of wind turbines," Ruhr Economic Papers 791, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen, revised 2019.
    17. Brockmeier, M., 1991. "Entwicklung und Aufhebung von Reinheitsgeboten im Nahrungsmittelbereich – Analyse und Bewertung," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 27.
    18. Erica L. Groshen & Brian C. Moyer & Ana M. Aizcorbe & Ralph Bradley & David M. Friedman, 2017. "How Government Statistics Adjust for Potential Biases from Quality Change and New Goods in an Age of Digital Technologies: A View from the Trenches," Journal of Economic Perspectives, American Economic Association, vol. 31(2), pages 187-210, Spring.
    19. Celia Bilbao-Terol, 2009. "Impacts of an Iron and Steel Plant on Residential Property Values," European Planning Studies, Taylor & Francis Journals, vol. 17(9), pages 1421-1436, September.
    20. Can Zou & Jun Tai & Li Chen & Yue Che, 2020. "An Environmental Justice Assessment of the Waste Treatment Facilities in Shanghai: Incorporating Counterfactual Decomposition into the Hedonic Price Model," Sustainability, MDPI, vol. 12(8), pages 1-12, April.

    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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:37237. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.