Article using hedonic price Essay

Author Comments

                This article is interesting in that it attempted to determine how hotel attributes can influence the prices of hotels in Singapore through the analysis of the online transactions - Article using hedonic price Essay introduction. It is also well written and can be read easily with minimal confusion.

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General Comments

a)      This study was aimed at analyzing the hedonic pricing principle on hotels in Singapore, however, the researchers had stated that the hotel market is partially segmented and integrated at the same time, and thus there will always be a degree of bias in the market and the analysis of the present study (p.4). The question was whether the possible bias in the results would influence the results of the present study. In my opinion, it is not only sufficient to acknowledge the presence of the possibility of the bias but it should also be controlled. However, the article does not mention anything about it.

b)      Using correlation measures to analyze the independent and dependent variables, it was found that high correlations existed between consumer feedback variables and perceptions of room standard and value for money. Further analysis found that satisfied customers tend to give higher ratings for all attributes while dissatisfied customers tend to do the opposite (p.5). Thus response rates increased the presumed relationship of the variables when there was none. The researchers can be commended for discussing this limitation but other means of analyzing the relationship between the variables should have been explored.

c)       This study reported that heteroscedasticity issues were found in the analysis of initial hedonic price functions especially with expensive hotels (p.6). Heteroscedasticity occurs when the sample has different variances and although it may not cause bias or inconsistency in the results but it may indicate statistical significance when there is none. This would indicate that the significant findings that the researchers had reported may not actually be a true significant value.

d)      The researchers pointed out that the value-for-money attribute is not a hotel attribute since it is not a valued resource with an implicit price. However, since the researcher’s assumed imperfect information was accessible to the customers they interpreted it as unrealistic expectation of the customers or an error in the hotel’s pricing method. The value-for-money attribute is an interesting finding in this study and should have been explored more. For example, it is possible that this could have been caused by how the hotels promoted their services and rates. There could also be a more pragmatic explanation in that hotel ratings exude a certain expectation and customers often base their expectations on information that they could have, and the internet provides extensive information that the customer may have access to, information is not limited to travel agencies.

Specific Comments

a)      Page 2, paragraph 3. In the sentence “This is possible because of…” because should be replaced with due.

b)      Page 2 under Theoretical framework, paragraph 1. “traced to a paper by Sherwin Rosen” should be changed to “in a concept paper, Sherwin Rosen (1974) expounded on the theory of hedonic pricing”.

c)       Page 3, under Methodology, paragraph 1. “satisfice their expected utility” should be changed to “optimize the services they have paid for”.

d)      Page 6, paragraph 3. The use of “she” is not appropriate, should be changed to he or she or they.

Reference

Anderson, D.E. (2008). Hotel attributes and hedonic prices: An analysis of internet-based transactions in Singapore’s market for hotel rooms. The Annals of Regional Science, 42(3), 1-12 [PDF}.

Reviewer Report to Journal Editor Annals of Regional Science

Paper Title: Hotel attributes and hedonic prices: An analysis of internet-based transactions in Singapore’s market for hotel rooms

Reviewer Name:

Reviewer Recommendation Term:
Minor Revision
Overall Reviewer Manuscript Rating:
75
Manuscript Rating Question(s):
Scale
Rating
1.1. The research question or hypothesis is plainly stated in one or two sentences.
1 = Yes, 2 = Need further work, 3 = Not stated
[1-3]
1
1.2. The importance of the research is explained clearly in one or two paragraphs.
1 = Yes, 2 = Needs further work, 3 = Not stated
[1-3]
1
1.3. The authors used the appropriate research methods for their work.
1 = Agree, 2 = Not my expertise, 3 = Disagree
[1-3]
1
1.4. The findings are explained in detail on the manuscript.
1 = Yes, 2 = Needs further work, 3 = Not in detail
[1-3]
2
1.5. There is a logical path of investigation throughout this paper.
1 = Agree, 2 = Needs further work, 3 = Disagree
[1-3]
1
1.6. This research presents a contribution to the field in which it was conducted.
1 = Agree, 2 = Cannot say, 3 = Disagree
[1-3]
1
1.7. The research provides a convincing line of argument with the use of references.
1 = Agree, 2 = Needs to explore more literature, 3 = Disagree
[1-3]
2
2.1. This manuscript uses well written English: it is clear, concise, and correct (i.e., proper terminology and syntax)
1 = Agree, 2 = Needs further editing, 3 = Needs to be re-written
[1-3]
2
2.2. The length of this manuscript matches its contribution:
1 = Yes, 2 = Needs further editing, 3 = No
If 3, please specify to the author (under Comments to the Author) what would you “cut”.
[1-3]
1
2.3. This manuscript’s abstract presents an intelligible approach, results, and conclusions:
1 = Appropriate as is, 2 = Needs further work, 3 = Needs to be re-written
[1-3]
1
2.4. The title is coherent with the content of the paper:
1 = Appropriate as is, 2 = Needs further work, 3 = Needs to be re-written
[1-3]
1
2.5. The research has illustrations/tables that are useful and of good quality. These are:
1 = Appropriate, 2 = Need minor edits, 3 = Need major edits
[1-3]
1
3.1. How would you classify the focus of this research? This research is mainly focused on …
1 = ideas/theory, 2 = discrete facts, 3 = cannot say
[1-3]
1
3.2. The research question or hypothesis is clearly derivative of the theory and literature review:
1 = agree, 2 = disagree, 3 = cannot say
[1-3]
1
3.3. How would you rate the author’s quality of interpretation and conclusion?
1 = appropriate as is, 2 = needs further work, 3 = needs to be re-written
[1-3]
1
Comments to Editor:
This is a good study that can contribute to the field of hotel markets and should be published. Although the points raised on the review should be considered before it is published.

Comments to Author:
In preparing the revision please explore more on the statistics and results of the study as you can extract more from your results.

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