Open Access
Table 5.
Hedonic Model: Dependent Variable Log (Pric/person/Night).
| Variable | Coefficient | Sth. Err | t-Stat. | Prob. | €b |
|---|---|---|---|---|---|
| Constant | 2.314*** | 0.269 | 8.599 | 0 | — |
| 1/2 Stars | 0.221*** | 0.033 | 6.656 | 0 | 21.92 |
| Dinner | 0.175*** | 0.057 | 3.090 | 0.005 | 16.95 |
| Education | 0.141** | 0.059 | 2.418 | 0.024 | 13.42 |
| Escapist | 0.125* | 0.070 | 1.793 | 0.086 | 11.80 |
| Esthetic | 0.138* | 0.070 | 1.959 | 0.062 | 13.12 |
| N = 29, Adj. R2 = 0.719, F-Stat. = 15.31Significance Level: *** (1%), ** (5%), * (10%) | |||||
Source: Own calculations. b with adjustments according to [18].
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