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Price-setting hotel competition under uncertain demand

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dc.contributor.authorFerreira, Fernanda A.
dc.contributor.authorFerreira, Flávio
dc.date.accessioned2019-12-26T14:22:15Z
dc.date.available2019-12-26T14:22:15Z
dc.date.issued2020
dc.description.abstractThis paper considers a price-set competition between a nonprofit hotel and a for-profit hotel, in a differentiated service market, with uncertain demand. We compute the Bayesian-Nash equilibrium, and we analyse the effects of the degree of altruistic preference on market equilibrium outcomes. As a result, we get that as the nonprofit hotel values more the consumer surplus, both hotels set higher (resp., lower) prices, if the probability of higher demand is high (resp., low). Furthermore, the expected profit of the for-profit hotel decreases (resp., increases) with the degree of altruistic preference, for either low or high (resp., intermediate) values of this degree. The expectation of the objective function of the nonprofit hotel increases with the degree of altruistic preference.pt_PT
dc.description.sponsorshipAuthors thank to UNIAG, R&D unit funded by FCT - Portuguese Foundation for the Development of Science and Technology, Ministry of Science, Technology and Higher Education, under the Project UID/GES/04752/2019.
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.doi10.1007/978-981-15-2024-2_26pt_PT
dc.identifier.isbn978-981-15-2023-5
dc.identifier.isbn978-981-15-2024-2
dc.identifier.urihttp://hdl.handle.net/10400.22/15183
dc.language.isoengpt_PT
dc.publisherSpringerpt_PT
dc.relationUID/GES/04752/2019
dc.relation.publisherversionhttps://link.springer.com/chapter/10.1007%2F978-981-15-2024-2_26pt_PT
dc.subjectGame theorypt_PT
dc.subjectBertrand modelpt_PT
dc.subjectHotel pricing strategiespt_PT
dc.subjectUncertain demandpt_PT
dc.titlePrice-setting hotel competition under uncertain demandpt_PT
dc.typeconference object
dspace.entity.typePublication
oaire.citation.conferencePlaceBuenos Aires, Argentinapt_PT
oaire.citation.endPage295pt_PT
oaire.citation.startPage289pt_PT
oaire.citation.titleAdvances in Tourism, Technology and Smart Systems. Proceedings of ICOTTS 2019pt_PT
oaire.citation.volume171pt_PT
person.familyNameFerreira
person.familyNameFerreira
person.givenNameFernanda A.
person.givenNameFlávio
person.identifierR-000-4TV
person.identifier.ciencia-idD116-9419-5778
person.identifier.ciencia-id9F13-D3C6-244B
person.identifier.orcid0000-0002-1335-7821
person.identifier.orcid0000-0001-7812-0983
person.identifier.ridN-4563-2013
person.identifier.ridN-4562-2013
person.identifier.scopus-author-id24723992800
person.identifier.scopus-author-id22978799800
rcaap.rightsclosedAccesspt_PT
rcaap.typeconferenceObjectpt_PT
relation.isAuthorOfPublicationaaa18584-508e-46b1-9b50-4e174c0e142c
relation.isAuthorOfPublication6f67981a-3965-4ace-aec9-65938c4bcf66
relation.isAuthorOfPublication.latestForDiscoveryaaa18584-508e-46b1-9b50-4e174c0e142c

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