In this note, we propose a flexible revenue function that considers the characteristics of hotels that operate within competitive clusters. We show that without a need to estimate a demand function one can estimate elasticities of demand, conjectural variations, revenue efficiency, technical change, efficiency change, productivity growth, as well the Lerner index. We use a Bayesian approach to fit the model on a sample of US hotels.

中文翻译：

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集群内酒店的收入函数

在本说明中，我们提出了一个灵活的收入函数，该函数考虑了在竞争集群内运营的酒店的特征。我们表明，无需估计需求函数，就可以估计需求弹性、推测变化、收入效率、技术变化、效率变化、生产率增长以及勒​​纳指数。我们使用贝叶斯方法将模型拟合到美国酒店样本上。