Price competition among short-term Airbnb listings in New York City following Local Law 18

Figures & data

Figure 1. Short-term Airbnb listings vs. daily price per guest (entire homes, NYC, Jul 23-Jan 24). Data source: insideairbnb.com.

Table 1. Fixed-effects regression results.

Variable	NYC_listings		Brooklyn_listings
	coeff.	sig	coeff.	sig
comp	−0.00083	***	−0.00096	***
comp*host_listings	0.00002	***	0.00023	***
comp*superhost	−0.00031	**	−0.00019
comp*revs_l30d	−0.00006	*	−0.00001
comp*avail30	−0.00003	***	−0.00001
returning	−0.11867	***	−0.01950
superhost	0.01074		0.01320
host_listings	0.00112	**	0.00954	***
min_nights	−0.00152		−0.00487	***
avail30	0.00047		0.00238	***
revs_l30d	−0.00543	**	−0.00027
monthly dummies	Yes		Yes
sigma_u	0.628		0.555
sigma_e	0.209		0.143
rho	0.900		0.937
No. of obs.	42,700		11,602
No. of listings	16,021		5,460
Within R2	0.085		0.174
Variable	Manhattan_listings		Queens_listings
	coeff.	sig	coeff.	sig
comp	−0.00152	***	0.00087
comp*host_listings	0.00001	***	−0.00004
comp*superhost	−0.00129	***	−0.00018
comp*revs_l30d	−0.00019	***	0.00021
comp*avail30	−0.00006	***	0.00002
returning	−0.39737	***	−0.01047
superhost	0.03716	**	−0.00281
host_listings	0.00010		−0.00157
min_nights	0.00211		0.00116
avail30	0.00131	*	0.00095
revs_l30d	−0.00009		−0.00501	*
monthly dummies	Yes		Yes
sigma_u	0.610		0.482
sigma_e	0.271		0.122
rho	0.835		0.940
No. of obs.	14,310		5,060
No. of listings	5,313		2,361
Within R2	0.248		0.104

Note:*, **, *** denote significance at 10%, 5%, and 1% level, respectively.