دانلود رایگان مقاله لاتین راهبرد قیمت توسط اپراتور تور آلمان و بریتانیا از سایت الزویر
عنوان فارسی مقاله:
استراتژی های قیمت توسط اپراتور تور آلمان و بریتانیا در مالورکا
عنوان انگلیسی مقاله:
Price strategies by German and British tour operators in Mallorca
سال انتشار : 2017
بخشی از مقاله انگلیسی:
4. Methodology: quantile regression model for hedonic prices
One of the aims of the present paper is to analyse the effect on prices of the tour operators along the price distribution. To do that, we used the hedonic price method. With this method, an analysis can be made of the relationship between the price of a package holiday and its characteristics including the tour operator selling the package. In this way, a comparison can be made of the effect that the tour operator has on the price of the package holiday by neutralizing all the remaining characteristics. This analysis can be conducted by taking the mean price (using a standard regression model) or by examining different parts of the price distribution (using QR). As Davino, Furno and Vistocco suggest “QR provide a description of the whole conditional distribution of a response variable in terms of a set of explanatory variables, allowing effects to be discerned that would otherwise be lost in the classical regression model that analyses the sole conditional mean” (Davino, Furno, & Vistocco, 2014, p. ix). By using QR, not only can the mean of the price distribution be analysed but also what occurs at different points of the distribution. We believe that it is more relevant to examine different points of the distribution, since tour operator price strategies for the cheap, mid-price and expensive segments can be analysed. Consequently, the hedonic price model was estimated using QR. Following, the hedonic price method and the QR is briefly explained in the context of the analysis preformed. The hedonic price method assumes that when a product is purchased, what is really being bought is a set of characteristics (Rosen, 1974). According to the hedonic hypothesis, the price of a package holiday can be expressed in terms of the package's characteristics. In other words, we can establish what is known as the hedonic price function: P ¼ f (characteristics) where the price of a package holiday, P, is a function of all its characteristics. Initially, the characteristics included where those that give value to the consumer, but recently the literature has included market power variables as well, in the hedonic price function (Sinclair et al., 1990; Clewer et al., 1994; Aguilo et et al., 2003; Haroutunian et al., 2005). The characteristics in our models are those described in Table 3, being the tour operator selling the package holiday the key variable of our investigation. In this way, price differences in uniform package holidays can be identified that are attributable to the tour operator. As said in the literature review, the analysis in other papers had be conducted by taking the mean price of the package holidays, using econometric methods (a standard regression model) to obtain the implicit prices of different characteristics at that point of the distribution. One alternative is to analyse more than one point of the price distribution, using a quantile regression model (QRM). The QRM developed by Koenker and Basset (1978) consists of estimating regressions at several quantiles of the dependent variable distribution. While a standard linear regression model specifies the conditional mean function, a QRM explains the determinants of the dependent variable at any point of the distribution of the dependent variable using conditional quantile functions (Hao and Naiman, 2007). As is commonly known, the q-th quantile is the value y such that PðY yÞ ¼ q. A QR analysis can be used to analyse the relationship between the dependent and independent variable(s) by estimating each quantile of response variables, based on the conditional quantile function (Koenker & Hallock, 2001).
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