Dynamic pricing techniques allow using a number of variables in a tactical way compared to standard\udcatalogue prices. This study merges in a conceptual model the relevance of the tactical and the strategic\uddimension of these variables, classified according to their tangible, reputational or contextual nature.\udTo empirically validate the hypotheses, a database of 21.596 price observations was retrieved from\udbooking.com. The study presents a hedonic price function, using the Shapley-Owen decomposition of the Rsquared\udto elicit the importance of each group of factors. Further, a hierarchical cluster analysis measures the\udpresence of heterogeneity across operators.\udThe results show that online reputation is gaining importance over the traditional star rating. Despite the\udtangible variables remain of paramount importance, the findings suggest the relevant role of contextual\udvariables in short-run price variations. The players operating in the tourism and hospitality industries should\udintegrate these findings when designing pricing strategies.
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