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12월 3일에 예정된 수요세미나 안내 드립니다.

일시 및 장소 : 2025년 12월 3일(수) 12:00 ~ 13:00, 다산경제관 32210호

발표자 : 이주성 교수님

논문제목 : 

Consumer Search with Random Prominence: Price Discounting by Airbnb Superhosts (co-authored with Jihyun Kim, Wooseok Sim)

논문초록: 

Reputation badges are widely used in digital marketplaces. We develop a consumer search model with random prominence, in which badge visibility probabilistically shifts badged sellers' positions in search rankings. We show that, under mild conditions, badged sellers strategically lower their prices to discourage consumers from continued search, as badge visibility increases the price elasticity of demand. We further analyze the platform’s optimal choice of badge visibility and discuss its welfare implications. Empirically, we examine the price effect of Airbnb’s “Superhost" badge using a regression discontinuity design that exploits the sharp host-rating threshold of 4.8. We find that obtaining the Superhost badge leads to a significant reduction in listing prices (5.3% discount with time fixed effects; 9.5% without).

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