Room Rates as Signals of Quality, Sell-Out Risk and the Prospects of Getting a Better Deal: Analytical Model and Empirical Evidence
Bibliographic record
Abstract
Travellers make advanced booking decisions in an imperfect information environment, an environment in which price signalling is likely to occur. This study examines the unique informational role of room rates by suggesting an analytical model of room rates as a signal of quality and sell-out risk and by testing the theory empirically. The findings indicate that, even in advanced booking situations in which consumers might associate price deviations with the hotel's revenue management policies, prices can still signal quality to the consumers. Moreover, the study demonstrates that in a deal seeking/advanced booking context, there are two additional opposing impacts of the informational role of prices. Customers' propensity to book increases with higher rates because the perception of the sell-out risk is higher. However, at the same time, customers' propensity to book decreases because the higher room rate induces a higher expectation of the offer of a better deal.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.004 | 0.021 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.002 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.001 | 0.002 |
| Scholarly communication | 0.005 | 0.004 |
| Open science | 0.002 | 0.001 |
| Research integrity | 0.003 | 0.002 |
| Insufficient payload (model declined to judge) | 0.009 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".