Hotel pricing with reference-dependent utility facing self-driving tour market(PDF)
《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]
- Issue:
- 2018年03期
- Page:
- 38-48
- Research Field:
- 经济管理
- Publishing date:
Info
- Title:
- Hotel pricing with reference-dependent utility facing self-driving tour market
- Author(s):
- GUO Xiao-long; LIU Bing-bing
- 1.School of Management,University of Science and Technology of China,Hefei 230026，Anhui,China； 2.School of Mathematics and Computing Science,Anqing Normal University,Anqing 246133，Anqui,China
- Keywords:
- reference point dependence; selfdriving travel; hotel pricing; Nash game
- PACS:
- C93;F224;F59
- DOI:
- -
- Abstract:
- With the continuous increase in the number of private cars of the residents,selfdriving tour is greatly favored by travelers because of its convenient travel and experience of driving pleasure.According to the latest statistics,the annual frequency of travel,average duration and per capita consumption of selfdriving travel by Chinese residents have increased year by year,especially the rapid increase of the average consumption index of consumers in hotel.The topic of how to optimize the price of hotels in the scenic area according to the consumers’behavior characteristics and competitors’information is worth studying.Under the background of the rapid development of the consumer market of selfdriving travel,two competitive hotels in the tourist destination were taken as the research object based on the purchase utility theory of the consumers’reference point dependence.The mathematical models of the two hotels’ competitive pricing were established by the static Nash game theory.The optimal pricing strategy of two hotels in the completion was studied from two aspects of perfect information game and asymmetric information game.And then the optimal strategy of reference hotels (i.e.famous hotels) and nonreference hotels in the above two situations was compared and analyzed.The study shows that the two hotels can maximize the profit of both parties in the case of complete market information,and the lack of information on either side will result in the reduced expected profit of the two; reference hotels and nonreference hotels should form a business alliance and share their market information with each other so as to maximize their profits simultaneously.
Last Update: 2018-09-03