IDEAS home Printed from https://ideas.repec.org/a/eee/anture/v112y2025ics0160738325000295.html

Impact of guest-generated photos: Evidence from Airbnb

Author

Listed:
  • Wang, Chenze
  • Liu, Xiaoxiao
  • Xiao, Zhenxin
  • Gong, Xiang
  • Dang, Jinming

Abstract

Home-sharing platforms have evolved to allow guests to include photos along with their textual reviews. However, the impact of these guest-generated photos on property sales performance remains underexplored. From the perspective of property uncertainty, this study proposes that guest-generated photos have a complex effect on sales. Using a quasi-experiment on Airbnb, we find that guest-generated photos, on average, negatively impact property sales. Multi-method analysis of the underlying mechanisms reveals that these photos can either reduce or increase guests' perceived property uncertainty, thereby influencing sales. Furthermore, our heterogeneity analysis shows that this negative impact is exacerbated by lower-quality or indoor photos, while looser cancellation policies or high host professionalism can mitigate it.

Suggested Citation

  • Wang, Chenze & Liu, Xiaoxiao & Xiao, Zhenxin & Gong, Xiang & Dang, Jinming, 2025. "Impact of guest-generated photos: Evidence from Airbnb," Annals of Tourism Research, Elsevier, vol. 112(C).
  • Handle: RePEc:eee:anture:v:112:y:2025:i:c:s0160738325000295
    DOI: 10.1016/j.annals.2025.103923
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160738325000295
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.annals.2025.103923?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Liang, Sai & Schuckert, Markus & Law, Rob & Chen, Chih-Chien, 2017. "Be a “Superhost”: The importance of badge systems for peer-to-peer rental accommodations," Tourism Management, Elsevier, vol. 60(C), pages 454-465.
    2. Liu, Zhiwei & Park, Sangwon, 2015. "What makes a useful online review? Implication for travel product websites," Tourism Management, Elsevier, vol. 47(C), pages 140-151.
    3. Wang, Yi & Bramwell, Bill, 2012. "Heritage protection and tourism development priorities in Hangzhou, China: A political economy and governance perspective," Tourism Management, Elsevier, vol. 33(4), pages 988-998.
    4. Liang, Sai & Li, Hui & Liu, Xianwei & Schuckert, Markus, 2019. "Motivators behind information disclosure: Evidence from Airbnb hosts," Annals of Tourism Research, Elsevier, vol. 76(C), pages 305-319.
    5. Wei Chen & Zaiyan Wei & Karen Xie, 2023. "Regulating Professional Players in Peer-to-Peer Markets: Evidence from Airbnb," Management Science, INFORMS, vol. 69(5), pages 2893-2918, May.
    6. Kirill Borusyak & Xavier Jaravel & Jann Spiess, 2024. "Revisiting Event-Study Designs: Robust and Efficient Estimation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(6), pages 3253-3285.
    7. Hui Li & Kannan Srinivasan, 2019. "Competitive Dynamics in the Sharing Economy: An Analysis in the Context of Airbnb and Hotels," Marketing Science, INFORMS, vol. 38(3), pages 365-391, May.
    8. Xu, Jian & Zhang, Wei & Li, Hengyun & Zheng, Xiang (Kevin) & Zhang, Jing, 2024. "User-generated photos in hotel demand forecasting," Annals of Tourism Research, Elsevier, vol. 108(C).
    9. Zhang, Ke & Sun, Xinru & Li, Gang, 2025. "Virtual influencer and cultural heritage destination: Endorsement effectiveness of virtual versus human influencers," Annals of Tourism Research, Elsevier, vol. 110(C).
    10. Yu, Joanne & Egger, Roman, 2021. "Color and engagement in touristic Instagram pictures: A machine learning approach," Annals of Tourism Research, Elsevier, vol. 89(C).
    11. Xunyi Wang & Meiling Jiang & Wencui Han & Liangfei Qiu, 2022. "Do Emotions Sell? The Impact of Emotional Expressions on Sales in the Space‐Sharing Economy," Production and Operations Management, Production and Operations Management Society, vol. 31(1), pages 65-82, January.
    12. Ert, Eyal & Fleischer, Aliza & Magen, Nathan, 2016. "Trust and reputation in the sharing economy: The role of personal photos in Airbnb," Tourism Management, Elsevier, vol. 55(C), pages 62-73.
    13. Shunyuan Zhang & Dokyun Lee & Param Vir Singh & Kannan Srinivasan, 2022. "What Makes a Good Image? Airbnb Demand Analytics Leveraging Interpretable Image Features," Management Science, INFORMS, vol. 68(8), pages 5644-5666, August.
    14. Yili (Kevin) Hong & Paul A. Pavlou, 2014. "Product Fit Uncertainty in Online Markets: Nature, Effects, and Antecedents," Information Systems Research, INFORMS, vol. 25(2), pages 328-344, June.
    15. Zhanfei Lei & Dezhi Yin & Sabyasachi Mitra & Han Zhang, 2022. "Swayed by the reviews: Disentangling the effects of average ratings and individual reviews in online word‐of‐mouth," Production and Operations Management, Production and Operations Management Society, vol. 31(6), pages 2393-2411, June.
    16. Li, Hengyun & Wang, Qian & Li, Gang & Cai, Danting, 2023. "Do looks matter for hosts on the peer-to-peer sharing accommodation market?," Annals of Tourism Research, Elsevier, vol. 98(C).
    17. Liang, Sai & Li, Chunxiao & Zhang, Xiaoxia & Li, Hui, 2020. "The snowball effect in online travel platforms: How does peer influence affect review posting decisions?," Annals of Tourism Research, Elsevier, vol. 85(C).
    18. Ert, Eyal & Fleischer, Aliza, 2019. "The evolution of trust in Airbnb: A case of home rental," Annals of Tourism Research, Elsevier, vol. 75(C), pages 279-287.
    19. Sun, Liyang & Abraham, Sarah, 2021. "Estimating dynamic treatment effects in event studies with heterogeneous treatment effects," Journal of Econometrics, Elsevier, vol. 225(2), pages 175-199.
    20. Boto-García, David & Balado-Naves, Roberto & Mayor, Matías & Baños-Pino, José Francisco, 2023. "Consumers' demand for operational licencing: evidence from Airbnb in Paris," Annals of Tourism Research, Elsevier, vol. 100(C).
    21. Callaway, Brantly & Sant’Anna, Pedro H.C., 2021. "Difference-in-Differences with multiple time periods," Journal of Econometrics, Elsevier, vol. 225(2), pages 200-230.
    22. Park, Sangwon & Nicolau, Juan L., 2015. "Asymmetric effects of online consumer reviews," Annals of Tourism Research, Elsevier, vol. 50(C), pages 67-83.
    Full references (including those not matched with items on IDEAS)

    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. Boto-García, David & Balado-Naves, Roberto & Mayor, Matías & Baños-Pino, José Francisco, 2023. "Consumers' demand for operational licencing: evidence from Airbnb in Paris," Annals of Tourism Research, Elsevier, vol. 100(C).
    2. Jack (Peiyao) Ma & Andrea Mantovani & Carlo Reggiani & Annette Broocks & Néstor Duch-Brown, 2024. "The Price Effects of Prohibiting Price Parity Clauses: Evidence from International Hotel Groups," Economics Series Working Papers 1043, University of Oxford, Department of Economics.
    3. Hahm, Dong Woo, 2026. "From curriculum to career: Early-career labor market effects of the Common Core," Economics of Education Review, Elsevier, vol. 110(C).
    4. Jinlei Li & Yuanbiao Huang & Lei Wang, 2025. "Impact of National Technology Transfer Markets on Entrepreneurship in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 33(3), pages 76-108, May.
    5. Guo, Shijun & Hu, Fang, 2025. "Catalyzing transparency: Proactive enforcement of information disclosure and its impact on stock price synchronicity," Journal of Contemporary Accounting and Economics, Elsevier, vol. 21(1).
    6. Jin, Wenchao & Jin, Zhangfeng, 2026. "Migration Reform and Fertility: Evidence from Rural China," GLO Discussion Paper Series 1718, Global Labor Organization (GLO).
    7. Sanna Bergvall & Nuria Rodriguez-Planas, 2024. "Motherhood and domestic violence: A longitudinal study using population - wide administrative data," Working Papers 2024/09, Institut d'Economia de Barcelona (IEB).
    8. Coraggio, Luca & Pagano, Marco & Scognamiglio, Annalisa & Tåg, Joacim, 2025. "JAQ of all trades: Job mismatch, firm productivity and managerial quality," Journal of Financial Economics, Elsevier, vol. 164(C).
    9. Burton, Anne M. & Churchill, Brandyn F., 2025. "Supply-side opioid restrictions and the retail pharmacy market," Journal of Health Economics, Elsevier, vol. 104(C).
    10. Martin Huber & Sarina Joy Oberhansli, 2026. "Difference-in-differences for mediation analysis using double machine learning," Papers 2602.23877, arXiv.org.
    11. Li, Pei & Liu, Kaihao & Lu, Yi & Peng, Lu, 2025. "Organizing regulatory structure and local air quality: Evidence from the environmental vertical management reform in China," Journal of Comparative Economics, Elsevier, vol. 53(1), pages 139-164.
    12. Kang, Yankun & Liu, Ruiming & Yang, Bingyan, 2025. "Bridging the ivory tower and industry: How university science parks promote university-industry collaboration?," Research Policy, Elsevier, vol. 54(6).
    13. Claudio Lucarelli & Molly Frean & Aliza S. Gordon & Lynn M. Hua & Mark V. Pauly, 2026. "What do health insurance deductibles do to health care spending growth?," International Journal of Health Economics and Management, Springer, vol. 26(2), pages 1-31, June.
    14. Gabriele Letta & Mario Cesare Nurchis & Luca Salmasi & Gilberto Turati, 2026. "Do vaccination-based access restriction policies curb hesitancy? A comparison between Italy and Spain," DISCE - Working Papers del Dipartimento di Economia e Finanza def153, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    15. Zhang, Yufei & Ye, Guanhong, 2025. "Judicial independence and corporate ESG performance," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1789-1818.
    16. Zhiwu Chen & Yan Chen & Yan Han & Meiting Lu & Yaowen Shan, 2026. "Justice’s financial footprint: Judicial independence and the cost of debt," Australian Journal of Management, Australian School of Business, vol. 51(1), pages 174-210, February.
    17. Chen, Jun & Chu, Liping & Li, Jinlian & Liu, Jia, 2025. "High-speed rail and air pollution near airports in China: An inquiry into the substitution effect on air transport," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1467-1481.
    18. Stephan Heblich & Stephen J. Redding & Yanos Zylberberg, 2024. "The Distributional Consequences of Trade: Evidence from the Grain Invasion," Working Papers 337, Princeton University, Department of Economics, Center for Economic Policy Studies..
    19. repec:hal:cdiwps:hal-05056150 is not listed on IDEAS
    20. Dami'an Vergara, 2022. "Minimum Wages and Optimal Redistribution," Papers 2202.00839, arXiv.org, revised Dec 2022.
    21. Cl'ement de Chaisemartin & Xavier D'Haultf{oe}uille, 2025. "Treatment-Effect Estimation in Complex Designs under a Parallel-trends Assumption," Papers 2508.07808, arXiv.org, revised Dec 2025.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    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:eee:anture:v:112:y:2025:i:c:s0160738325000295. 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: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/annals-of-tourism-research/ .

    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.