Title of Paper

The Effects of Macroeconomic Factors on the Supply of Airbnb: Theory and Empirical Evidence

Author Bios (50 Words for each Author)

Dr. Tarik Dogru is an assistant professor of hospitality management in the Dedman School of Hospitality at Florida State University. His research interests include sharing economy, corporate finance, franchising, hotel investments, tourism economics, climate change, and blockchain technology.

Yingsha Zhang, Ph.D. (yingsha.zhang@waikato.ac.nz), is a senior lecturer at Waikato Management School, the University of Waikato. Yingsha’s research mainly focuses on destination marketing and management, tourist behavior, tourism geography, and research methods, with special emphasis on theme parks and big data.

Dr. Courtney Suess is an Assistant Professor at Texas A & M University in the department of Recreation, Parks and Tourism Sciences. Courtney holds a bachelor’s degree from the School of the Art Institute of Chicago, and a masters and Ph.D. from UNLV’s William F. Harrah College of Hotel Administration.

Dr. Makarand Mody, an Assistant Professor of Hospitality Marketing at Boston University’s School of Hospitality Administration. Dr. Mody has worked in the hotel and airlines industries. His research focuses on issues pertaining to the supply and demand of responsible tourism, the sharing economy, and the modeling of consumer behavioral pathways.

Dr. Umit Bulut is an associate professor of economics in the Faculty of Economics and Administrative Sciences at Kirsehir Ahi Evran University in Turkey. He received his PhD degree in Economics from Gazi University in Turkey, 2014. His research interests include monetary economics, energy economics, tourism economics, and applied econometrics.

Dr. Ercan Sirakaya-Turk is a full professor in the College of Hospitality, Retail and Sports Management at the University of South Carolina. Dr. Sirakaya-Turk is the founding Editor-in-Chief for e-Review of Tourism Research, and the Editor-in-Chief for Tourism Analysis. His research interests center around destination branding, sustainability and tourism economics.

Abstract (150 Words)

This study examined the impacts of several macroeconomic factors on the supply of Airbnb in 50 U.S. states via a dynamic panel data model. These factors included hotel room rates, hotel demand, tourism demand, house prices, gross domestic product, wages, and unemployment on the supply of Airbnb. All of these factors were found to have significant relationships with at least one of the four measures of Airbnb supply (all Airbnb listings, entire homes, private rooms, and shared rooms). Based on the literature, the empirical results, and Fogg Behavior Model, a conceptual Airbnb Supply Model was proposed. In this model, these macroeconomic factors were considered the fundamental factors, and several mediators and direct factors of Airbnb supply were proposed to explain the influences of these macroeconomic factors on Airbnb supply. Their relationships were discussed from three perspectives: Airbnb hosts’ trigger, motivation, and ability.

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The Effects of Macroeconomic Factors on the Supply of Airbnb: Theory and Empirical Evidence

This study examined the impacts of several macroeconomic factors on the supply of Airbnb in 50 U.S. states via a dynamic panel data model. These factors included hotel room rates, hotel demand, tourism demand, house prices, gross domestic product, wages, and unemployment on the supply of Airbnb. All of these factors were found to have significant relationships with at least one of the four measures of Airbnb supply (all Airbnb listings, entire homes, private rooms, and shared rooms). Based on the literature, the empirical results, and Fogg Behavior Model, a conceptual Airbnb Supply Model was proposed. In this model, these macroeconomic factors were considered the fundamental factors, and several mediators and direct factors of Airbnb supply were proposed to explain the influences of these macroeconomic factors on Airbnb supply. Their relationships were discussed from three perspectives: Airbnb hosts’ trigger, motivation, and ability.