Text-Based Rental Rate Predictions of Airbnb Listings

2019 ◽  
Author(s):  
Norbert Pfeifer
Keyword(s):  
Rental Rate

scholarly journals Bertrand Oligopoly And Factors Markets With Scarcity And Price Controls

2012 ◽  
Vol 10 (6) ◽  
pp. 355
Author(s):  
Randall E. Waldron ◽  
Michael A. Allgrunn
Keyword(s):  
Minimum Wage ◽  
Price Competition ◽  
Price Controls ◽  
Classroom Experiment ◽  
Differentiated Goods ◽  
Rental Rate ◽  
The One ◽  
Input Markets ◽  
Bertrand Oligopoly ◽  
Stable Outcome

In an earlier article, we reported the results of a classroom experiment simulating price competition in an oligopoly with differentiated goods. That study raised some questions that we were unable to address at that time. For this current study, we have adapted the experiment to further explore the effects of scarcity in the input markets, and to study the effects of price controls in these markets. We find that scarcity in an input market has the expected directional effect on prices in both input and output markets, but not necessarily the magnitude expected; we further find that price controls have only some of the effects expected. In the current experiment, we increased the number of rounds of the game to allow more opportunity for convergence to a stable outcome, and to allow for three distinct phases of the game: initial rounds in which inputs were abundantly available, subsequent rounds in which one inputs supply was dramatically reduced, and final rounds in which a price floor was established on the one input which remained abundant. As expected, firms played Nash/Bertrand strategies in the early rounds. However, the shock caused by reducing the availability of capital took many rounds for full adjustment, with both output prices and the equilibrium rental rate of capital rising consistently and gradually toward their projected equilibria over ten rounds, although even then capital prices did not rise enough to absorb all firm profits. Surprisingly, establishing a minimum wage did not have the anticipated effect of balancing payments between labor and capital; instead, the minimum wage completely disrupted the trend of an increasing rental price of capital and reduced it to zero, while creating volatility in profits without consistently eliminating them. Overall, we find that most of our anticipated results ultimately obtain, but adjustments to variations in market conditions are neither immediate nor perfectly consistent with the predictions of theory.

Macroeconomic shocks, fragility and home financing in Malaysia: can rental index be the answer?

2018 ◽  
Vol 9 (1) ◽  
pp. 17-44 ◽  
Author(s):  
Rosylin Mohd Yusof ◽  
Farrell Hazsan Usman ◽  
Akhmad Affandi Mahfudz ◽  
Ahmad Suki Arif
Keyword(s):  
Interest Rates ◽  
Islamic Banks ◽  
Macroeconomic Shocks ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
Rental Rate ◽  
Conventional Banks ◽  
The Impact ◽  
Conventional And Islamic Banks

Purpose This study aims to investigate the interactions among macroeconomic variable shocks, banking fragility and home financing provided by conventional and Islamic banks in Malaysia. Identifying the causes of financial instability and the effects of macroeconomic shocks can help to foil the onset of future financial turbulence. Design/methodology/approach The autoregressive distributed lag bound-testing cointegration approach, impulse response functions (IRFs) and forecast error variance decomposition are used in this study to unravel the long-run and short-run dynamics among the selected macroeconomic variables and amount of home financing offered by both conventional and Islamic banks. In addition, the study uses Granger causality tests to investigate the short-run causalities among the selected variables to further understand the impact of one macroeconomic shock to Islamic and conventional home financing. Findings This study provides evidence that macroeconomic shocks have different long-run and short-run effects on amount of home financing offered by conventional and Islamic banks. Both in the long run and short run, home financing provided by Islamic banks is more linked to real sector economy and thus is more stable as compared to home financing provided by conventional banks. The Granger causality test reveals that only gross domestic product (GDP), Kuala Lumpur Syariah Index (KLSI)/Kuala Lumpur Composite Index (KLCI) and house price index (HPI) are found to have a statistically significant causal relationship with home financing offered by both conventional and Islamic banks. Unlike the case of Islamic banks, conventional home financing is found to have a unidirectional causality with interest rates. Research limitations/implications This study has focused on analyzing the macroeconomic shocks on home financing. However, this study does not assess the impact of financial deregulation and enhanced information technology on amount of financing offered by both conventional and Islamic banks. In addition, it is not within the ambit of this present study to examine the effects of agency costs and information asymmetry. Practical implications The analysis of cointegration and IRFs exhibits that in the long run and short run, home financing provided by Islamic banks are more linked to real sector economy like GDP and House Prices (HPI) and therefore more resilient to economic vulnerabilities as compared to home financing provided by conventional banks. However, in the long run, both conventional and Islamic banks are more susceptible to fluctuations in interest rates. The results of the study suggest that monetary policy ramifications to improve banking fragility should focus on stabilizing interest rates or finding an alternative that is free from interest. Social implications Because interest plays a significant role in pricing of home loans, the potential of an alternative such as rental rate is therefore timely and worth the effort to investigate further. Therefore, Islamic banks can explore the possibility of pricing home financing based on rental rate as proposed in this study. Originality/value This paper examines the unresolved issues in Islamic home financing where Islamic banks still benchmark their products especially home financing, to interest rates in dual banking system such as in the case of Malaysia. To the best of the authors’ knowledge, studies conducted in this area are meager and therefore is imperative to be examined.

Series of successive B2B contracts: impact on contract length and rental rate

2019 ◽  
Vol 34 (7) ◽  
pp. 1570-1579 ◽  
Author(s):  
Shanfei Feng ◽  
Trichy V. Krishnan
Keyword(s):  
Service Sector ◽  
Continuous Series ◽  
Economic Factors ◽  
Data Set ◽  
Content Type ◽  
Oil Drilling ◽  
Service Contracts ◽  
Negative Effect ◽  
Rental Rate ◽  
Contract Length

Purpose Companies in the B2B service sector often sign a series of successive contracts instead of one long contract with their vendors. Economic researchers have shown how the lengths of stand-alone contracts are influenced by economic factors such as asset specificity and economic volatility, but have not researched into contracts that are part of a continuous series. The purpose of this study was to explore if being a part of a series of contracts influences the length of the focal contract and the rental rate. Design/methodology/approach The authors use data collected from the oil drilling industry to empirically test their hypotheses. The data set consists of 2,621 contracts involving jack-up rig hiring in the Gulf of Mexico region. Findings The authors empirically show that the series duration affects both the length and rental rate of each constituent contract, even after considering all other plausible economic factors. Specifically, the duration of a series has a positive effect on the length and a negative effect on the rental rate of the constituent contract. Originality/value Although contract length is as vital as the rent in B2B service transactions, it is rather unfortunate that marketing scholars have not researched much into this topic. The findings offer a new insight into the forces that shape the B2B service contracts and thus help the B2B managers make a better decision in service contracts.

scholarly journals An Evaluation of Post Conservation Reserve Program Alternatives In The Texas High Plains

1995 ◽  
Vol 27 (2) ◽  
pp. 556-564 ◽  
Author(s):  
Phillip N. Johnson ◽  
Eduardo Segarra
Keyword(s):  
Crop Production ◽  
Conservation Reserve Program ◽  
High Plains ◽  
Chance Constrained Programming ◽  
Marginal Value ◽  
Policy Alternatives ◽  
Texas High Plains ◽  
Rental Rate ◽  
Constrained Programming

AbstractFour policy alternatives for CRP lands upon expiration of the current contracts in Hale County, Texas are evaluated using chance-constrained programming. It was found that if CRP contracts are extended at the current average rental rate, 40 percent of the current enrollment would be expected to return to crop production, while 66 percent would return to crop production if the program were eliminated. The results also indicate that the marginal value of CRP payments to producers is lower than the marginal value of deficiency payments.

scholarly journals International Real Estate Review

2001 ◽  
Vol 4 (1) ◽  
pp. 1-25
Author(s):  
Peter F. Colwell ◽  
◽  
Yuehchuan Kung ◽  
Tyler T. Yang ◽  
◽  
...  
Keyword(s):  
Demand Curve ◽  
Real Life ◽  
Optimal Operation ◽  
Comparative Statics ◽  
Operating Expense ◽  
Closed Form Solutions ◽  
Rental Property ◽  
Income Ratio ◽  
Rental Rate

This paper examines the optimal operation strategies for income properties. Specifically, the rental rate and the operating expense should be set at levels to maximize the return on investment. The results suggest that for a given demand curve of a specific rental property, there exist optimal levels of the income ratio, the operating expense ratio, and the vacancy rate. With a Cobb-Douglas demand curve, we derived closed form solutions of these optimal ratios for a given income property. The relevant local comparative statics of these ratios also are derived. These comparative statics also provide insight into the optimal building size and optimal rehabilitation decisions. An empirical case study was conducted to demonstrate how the model can be applied in real life situations.

scholarly journals ISSUES ARISEN TO RENT ARREARS DETERMINATION ACCORDING TO THE PURPOSE OF PREMISE

2018 ◽  
Vol 18 ◽  
pp. 491-498
Author(s):  
T. V. Marchenko
Keyword(s):  
Economic Activity ◽  
City Council ◽  
Significant Part ◽  
The Real ◽  
Communal Property ◽  
Rental Rate ◽  
The City ◽  
Lease Agreement

A significant part of disputes between the parties in the economic activity arises on the issue of establishing the real of arrears amount for rent of communal property. One of reasons for these disputes is the wrongly defined and applied rental rate while determining the rental amount. Amount and terms of rent payment are established in the lease agreement between the lessor (owner) and the tenant, and the lease agreement for such property is the basis for charging rent for the leased property. Application of the rental rate for calculating the rent to the tenant that does not correspond to the purpose of the leased premises, may lead to under-charging and, accordingly, to the non-transfer of rent to the lessor and to the city budget. This article considers the case of application of rental rates while concluding a lease agreement and demonstrates how the rent arrears amount can change in the case of improperly determined rental rate. The analysis of current legislation of Ukraine is given, which is concern of their correct using, namely, the method recommendations about established rental rates for premises using according to special purpose on example of “Methods of rental payment calculation for property, which is in communal property of Kharkiv territorial community and its distribution proportions”, which was approved by 12th session of Kharkiv City Council of 6th convocation from 23.11.2011 № 566/11 and specific lease agreement are analyzed. Presented analysis of the current legislation of Ukraine on rental rates application can help while performing forensic researches related to establishment of real arrears amount for rent while resolving litigious economic disputes.

scholarly journals LARGE AND SMALL RESERVOIRS OF UKRAINE: REGIONAL AND BASIN DISTRIBUTION FEATURES

2021 ◽  
pp. 6-17
Author(s):  
V.K. KHILCHEVSKYI ◽  
V.V. GREBIN
Keyword(s):  
River Basin ◽  
River Flow ◽  
River Basins ◽  
Small Reservoirs ◽  
National Importance ◽  
Distribution Features ◽  
The Status ◽  
Rental Rate

The aim of the study was to establish the territorial patterns of the distribution of reservoirs in administrative regions and river basin districts, to identify the role of large, medium and small reservoirs in the balance of river flow regulation in Ukraine. In Ukraine, there are only 1054 reservoirs, among which there are six large reservoirs of the Dnieper cascade and the Dniester reservoir, and all the remaining 99.3% (1047 reservoirs) belong to the middle (M), small (S) and very small (VS) categories. For convenience, we call this group with the abbreviation MSVS-reservoirs. All reservoirs have a total volume of 55.13 km3. Thus, reservoirs regulate 32% of the total river flow of the country, amounting to 170.3 km3 per year. There are two main patterns of territorial distribution of reservoirs: large reservoirs are located on large rivers (Dnieper and Dniester) and are of national importance; MSVS-reservoirs – were created to provide water to industrial regions (for example, Donetsk, Kharkiv) and have regional or local significance. In terms of the volume of accumulated water, Ukraine is a country of large reservoirs. The six reservoirs of the Dnieper cascade contain 79% of the water, in the Dniester – 6%, in the MSVS-reservoirs – 15%. The volume of reservoirs in the Dnieper cascade is 43.71 km3, which is 82% of the average long-term runoff of the Dnieper (53.5 km3 per year). The operation of the Dniester reservoir (3.0 km3), which was created in the transboundary city of Dniester (Ukraine – Moldova), is carried out taking into account the water management interests of the two countries. MSVS-reservoirs are unevenly distributed over the territory of Ukraine. The largest number of them is concentrated in the arid central and southeastern regions of Ukraine, 45% of the total number of MSVS-reservoirs is located in the region of the river basin Dnieper. The largest total values of the total volume and area of MSVS-reservoirs is in the Odesa region due to the Danube lakes, which have been granted the status of reservoirs. In the use of territorial communities in Ukraine, there are 72% of the MSVS-reservoirs, 28% – leased. Among the regions of Ukraine, most of all are rented MSVS-reservoirs in the Transcarpathian region – 78%. In the Zaporizhye region, 56% of the MSVS-reservoirs are leased, in the Ternopil region – 54%. There are leases of MSVS-reservoirs in Ivano-Frankivsk and Lviv regions. Low values of the lease indicator were in the Autonomous Republic of Crimea (4%), in Kherson (7%), Vinnitsa (8%) and Volyn regions (10% each). Among the regions of river basins, there are more leased MSVS-reservoirs in the regions of the river basins. Southern Bug – 35%, Dnieper – 32%. The minimum rental rate was in the region of the Crimean river basin (4%). There is a lease of MSVS-reservoirs in the area of the river basin. Vistula.

Globalisation, crime and wage inequality: a theoretical analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Manash Ranjan Gupta
Keyword(s):  
General Equilibrium ◽  
Wage Inequality ◽  
Open Economy ◽  
Small Open Economy ◽  
The Other ◽  
Skilled Workers ◽  
Production Sector ◽  
Content Type ◽  
Unskilled Labour ◽  
Rental Rate

Purpose This study aims to focus on the effects of economic globalisation programme on the problems of criminal activities and on the degree of skilled–unskilled wage inequality. Design/methodology/approach A competitive general equilibrium model of a small open economy is developed. Unskilled labour moves from the production sector to the criminal sector. Those who join the criminal sector snatch a part of capitalists’ income and skilled workers’ income to finance their consumption and face positive probability of being caught and punished. The size of the criminal sector and the rental rate on capital are simultaneously determined in the short-run equilibrium of this model where factor endowments are exogenously given at a particular point of time. Findings An increase in the capital endowment resulting from an exogenous foreign capital inflow raises demand for labour and wage rates in both the sectors. So, it lowers the rental rate on capital and thus aggravates the problem of skilled–unskilled wage inequality because the skilled labour using sector is more capital intensive than the other production sector. However, it may lower the size of the criminal sector and thus may raise the level of the gross domestic product. Originality/value There exists substantial theoretical works on the problem of skilled–unskilled wage inequality, but none of these works focuses on the general equilibrium allocation of unskilled labour to the criminal sector. On the other hand, existing models specialised to analyse theoretical implications of crime and punishment do not focus on the interaction between crime and wage inequality.

scholarly journals The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment

2018 ◽  
Vol 108 (6) ◽  
pp. 1488-1542 ◽  
Author(s):  
Daron Acemoglu ◽  
Pascual Restrepo
Keyword(s):  
Capital Accumulation ◽  
New Technologies ◽  
Balanced Growth ◽  
Long Run ◽  
Rental Rate ◽  
Static Version ◽  
Balanced Growth Path ◽  
The Creation ◽  
The Cost ◽  
Factor Shares

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and technology is exogenous, automation reduces employment and the labor share, and may even reduce wages, while the creation of new tasks has the opposite effects. Our full model endogenizes capital accumulation and the direction of research toward automation and the creation of new tasks. If the long-run rental rate of capital relative to the wage is sufficiently low, the long-run equilibrium involves automation of all tasks. Otherwise, there exists a stable balanced growth path in which the two types of innovations go hand-in-hand. Stability is a consequence of the fact that automation reduces the cost of producing using labor, and thus discourages further automation and encourages the creation of new tasks. In an extension with heterogeneous skills, we show that inequality increases during transitions driven both by faster automation and the introduction of new tasks, and characterize the conditions under which inequality stabilizes in the long run. (JEL D63, E22, E23, E24, J24, O33, O41)

The value of social capital in farmland leasing relationships

2018 ◽  
Vol 78 (4) ◽  
pp. 489-496 ◽  
Author(s):  
Mykel R. Taylor ◽  
Allen M. Featherstone
Keyword(s):  
Social Capital ◽  
Design Methodology ◽  
Agricultural Land ◽  
Negative Impact ◽  
Content Type ◽  
Sample Average ◽  
Percent Increase ◽  
Rental Rate ◽  
Using Data

Purpose The purpose of this paper is to investigate the impacts of social capital on the rate at which agricultural land is rented between landowners and tenants using data from the state of Kansas. Design/methodology/approach A survey of tenants provides data on the rental rate of farmland as well as characteristics of the lease, the land, and the landowner. Findings Results support the hypothesis of a negative impact on rental rates from longer-term leasing relationships. The model estimates a 10.0 percent discount relative to market rates when the leasing relationship increases from 11 to 22 years. At the sample average of $64 per acre, this is a $10 per acre discount. Research limitations/implications Increased levels of social capital, as measured by the length of the leasing relationship between landowner and tenant, reduce the rental rate. A 10 percent increase in the number of years a parcel of land is leased to the same tenant will decrease the annual rental rate by 1 percent. Originality/value Research adds to the understanding of informal relationships underlying farmland leases. A large number of farmland tracts may turnover in the coming years. This turnover may affect the rental rates for tenants who have had long-term leasing relationships over time.

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