Alessandrini, Sergio (2012): Quality of ski resorts and competition between the Emilian Apennines and Altipiani Trentini. An estimate of the hedonic price.
Download (414kB) | Preview
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.
|Item Type:||MPRA Paper|
|Original Title:||Quality of ski resorts and competition between the Emilian Apennines and Altipiani Trentini. An estimate of the hedonic price|
|Keywords:||Hedonic price, ski resorts, Emilian Apennines, predicted prices|
|Subjects:||C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables
D - Microeconomics > D4 - Market Structure, Pricing, and Design
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R5 - Regional Government Analysis
|Depositing User:||Sergio Alessandrini|
|Date Deposited:||13. Mar 2012 12:56|
|Last Modified:||04. Jan 2016 23:13|
Barro, R. J., Romer, P. M. 1987, 'Ski‐Lift Pricing, with Applications to Labor and Other Markets', The American Economic Review, 77 (5), 875‐890.
Breiling M et al. 1999. The impact of global warming on winter tourism and skiing, Regional Environmental Change, vol. 1, no. 1, p. 4‐14.
Borsky, Stefan and Raschky PA, 2009, The Hedonics of Hedonism – Estimating the Value of Risk‐Taking Activities. KYKLOS, Vol. 62 – 2009 – No. 2, 210–225.
Bouter, L. M., Knipshild, P. G. and Feijo, J. A. & Volovics, A. 1998, 'Sensation Seeking and Injury Risk in Downhill Skiing', Personal Individual Differences 9 (3), 667‐673.
Buerki, Rolf, Hans Elsasser, Bruno Abegg and 2003, Climate Change and Winter Sports: Environmental and Economic Threats, 5th World Conference on Sport and Environment, Turin 2‐3 December 2003 (IOC / UNEP).
Del Matto, Tania and Scott, Daniel 2009, Sustainable Ski Resort Principles: An Uphill Journey, in S. Gossling, C, Michael Hall and David B. Weaver, Sustainable Tourism Futures. Perspectives on Systems, Restructuring and Innovations, Rutledge, 2009.
Elsasser, Hans, and Rolf Burki. 2002. "Climate Change as a Threat to Tourism in the Alps." Climate Change 20: 253‐257.
Falk, M. (2008), A Hedonic Price Model for Ski Lift Tickets, Tourism Management, Volume 29, Issue 6, December 2008, Pages 1172‐1184.
Falk, M. (2011), International Price Differences in Ski Lift Tickets, accepted for publication in Swiss Journal of Economics and Statistics (june 2011).
Lancaster, Kelvin J. 1966. "A New Approach to Consumer Theory," Journal of Political Economy, 74, 132‐157.
Maddison, David. 2000. "The Impact of Climate Change on Flows of British Tourists." In Tourism and Sustainable Economic Development., Eds. Amedeo Fossati and Giorgio Panella. Boston, Dordrecht and London: Kluwer Academic, pp 233‐249.
Mulligan, J. G., Llinares, E., 2003, "Market Segmentation and the Diffusion of Quality‐Enhancing Innovations: The Case of Downhill Skiing," The Review of Economics and Statistics, 2003, 85 (3): 493 to 501.
Mulligan, J.G. (2006), Endogenously determined Quality and Price In a Two‐Sector Competitive Service Market With an Application to Down‐Hill Skiing, Department of Economics, University of Delaware, Newark, Delaware, Working Paper #2006‐01, January 30 (mineo)
Organisation for Economic Co‐operation and Development (OECD). 2007. "Climate Change in the European Alps: Adapting Winter Tourism and Natural Hazards Management." Monograph. Paris: OECD.
Pawlowski, T, Pawlowski, C. (2010), The Monetary Value of Winter Sport Services in the European Alps, AIES, Working Paper Series, Paper No. 10‐03.
Rosen, S., 1974. Hedonic prices and implicit markets: product differentiation in pure competition. Journal of Political Economy, 82, 34‐55.
Scott, D. Mc Boyle G. 2003, Climate change and the skiing industry in southern Ontario (Canada): Exploring the importance of snowmaking as a technical adaptation,. Climate Research 23, 171‐181.
Wall, Geoffrey. 1992. "Tourism Alternatives in an Era of Global Climatic Change." In VL Smith and W.R. Eadington, eds, Tourism Alternatives: Potentials and Problems in the Development of Tourism. Philadelphia: University of Pennsylvania Press, pp. 194‐215.
WWF, 2006, Alps, tourism and environment: in search of a balance, Dossier by WWF‐Italy Tourism Office, February 2006.