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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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  • SERGIO ALESSANDRINI

    (Universitˆ di Modena e Reggio Emilia)

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 2008-2012 winter seasons. Hedonic logarithmic regression models are estimated for weekdays and weekends lift- ticket prices. The characteristics or attributes include any facility or service available to skiers which implicitly represents the value of their skiing experience. Our robust regressions yield precise and consistent estimates of positive effects on ticket prices. We find that the willingness to pay for the quality and diversification of slopes and the length of ski runs tend to be higher than the transport capacity, the altitude of the slopes or the other characteristics of the chairlifts. Then, we use our estimates to predict the lift-ticket prices of the sample resorts as a measure of their quality and attractiveness. We found that the perception of skiers is very selective and their choices are based on the values of the characteristics of the ski resort.

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Bibliographic Info

Article provided by Rimini Centre for Economic Analysis in its journal Review of Economic Analysis.

Volume (Year): 5 (2013)
Issue (Month): 1 (June)
Pages: 42-69

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Handle: RePEc:ren:journl:v:5:y:2013:i:1:p:42-69

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Related research

Keywords: Hedonic price; ski resorts; Emilian Apennines; predicted prices;

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  1. 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..
  2. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  3. 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.
  4. 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.
  5. 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.
  6. 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, 04.
  7. 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.
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Cited by:
  1. François Charles Wolff, 2014. "Lift ticket prices and quality in French ski resorts: Insights from a non-parametric analysis," Working Papers hal-00957842, HAL.

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