Table 2 Estimation of bargaining power effects model.
OLS estimation | |||
|---|---|---|---|
log(Lodging price) | Coefficient | Std. Err | P-value |
log(Room) | −0.029 | 0.050 | 0.568 |
log(Labor_M) | −0.500 | 0.085 | 0.000 |
log(Labor_R) | 0.388 | 0.095 | 0.000 |
log(Room)xlog(Labor_M) | 0.052 | 0.015 | 0.000 |
log(Room)xlog(Labor_R) | −0.062 | 0.018 | 0.000 |
log(Labor_M)xlog(Labor_R) | 0.069 | 0.012 | 0.000 |
Constant | 7.794 | 0.215 | 0.000 |
Sample | 2032 | ||
R-square | 0.175 | ||
Two-tier stochastic frontier estimation | |||
log(Room) | 0.066** | 0.032 | 0.037 |
log(Labor_M) | 0.099 | 0.080 | 0.215 |
log(Labor_R) | −0.324*** | 0.077 | 0.000 |
log(Room)xlog(Labor_M) | −0.023** | 0.011 | 0.032 |
log(Room)xlog(Labor_R) | 0.015 | 0.011 | 0.165 |
log(Labor_M)xlog(Labor_R) | 0.075 | 0.010 | 0.000 |
Constant | 7.251*** | 0.183 | 0.000 |
\(\sigma _v\) | −1.612 | 0.104 | 0.000 |
\(\sigma _u\) | −1.773 | 0.104 | 0.000 |
\(\sigma _w\) | −0.837 | 0.037 | 0.000 |
Log likelihood | −1321.836 | ||
Sample | 2032 | ||
