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The Effects of Experience Economy on Bed and Breakfast Prices: Application of Hedonic Price Approach Yi-Yu Huang * Wen-Tsan Liu ** Yea-Jiun Yang *** Abstract As Taiwan s society gradually transformed toward the developed society, experience economy will be next step s economic pattern. Few researchers attempted to empirically address the issue of experience economy, the purposes of this this study are to explore the effects of experience economy on bed and breakfast (B&B) room price. Through on-site questionnaire survey, information regarding consumer-oriented experience economy of bed and breakfast was obtained with 202 valid samples. Through on-line website investigation, information regarding supplier-oriented experience economy was obtained. The results indicate that experience economy consist of seven distinct dimensions including advanced goods, basic goods, advanced services, basic services, esthetic, emotional communication, escapist. The evidence showed that the goods, services, and experiences attributes in experience economy would affect B&B s room price. Tourists are willing to pay higher room price for refrigerator and hot water heater attributes in goods dimension, for advanced service and in-room internet in service dimension, and audio equipment in experience dimension. On contrary, tourists are willing to pay lower room price for traditional bathtub in goods dimension, pick-up service and BBQ service in service dimension, and emotional communication and escapist in experience dimension. Keywords: experience economy, experience realms, bed and breakfast price, hedonic price 2
(, 2010) ( (Bourdieu, 1984; 2006p.170 )) (2006) Pine Gilmore(1999) Pine Gilmore 1999 (experience economy) Oh et al. (2007) (satisfaction)hosany Witham(2010) (entertainment)(aesthetics) (intention to recommend) Yu Fang(2009)(experience economy)(product quality)(service quality)(contextual experience) (perceived value)(preference) (intention)pine Gilmore(1999) (ààà) (value added)pine Gilmore(1999) (esthetic)(educational)(entertainment) (escapist) Pine Gilmore(1999)(experience economy)(the experience realms) 3
Lancaster(1966)(hedonic consumption theory) (19972004)Rosen(1974) (hedonic price theory) (attributes)(utility)rosen Waugh(1928) Court (1939) (Noland, 1979Ladd & Suvannunt, 1976Sinclair et al., 1990 19931997) /(Espinet et al., 2003White Mulligan, 2002Monty Skidmore, 2003)( )()()/ (2007) (2009)() Pine Gilmore(1999)(experience economy theory) (the progression of economic value) (extract commodities)(make goods) (deliver services)(stage experiences)( 1 1) 4
() 85 C 30~40 ( ) Afternoon Tea 110 1 (2003) 1 / (2003) () 5
()( ) (2007) 參 識 理 Pine and Gilmore(1999) 令 識 參 Schmmit (1999) (2005) 刺 不 參 麗 (2007) 旅 不 理 理 Pine Gilmore(1999) (esthetic)(educational)(escapist) (entertainment) ( 2) () 6
() () () () 2 (2003) Oh et al.(2007) (education)(arousal)(aesthetics) (memory)(overall quality) (satisfaction)hosany Witham(2010) (entertainment)(aesthetics) (intention to recommend) 叁 ( 3) 7
3 (H) 1.2.()3. 4. Pine and Gilmore (1999)(the experience economy)(the experience realms)(2007) () 67 (likert scale)1 6 (Thrane, 2005) () ( 4)(2012) 8
7-11 101 1 28 2 5 18 417 202 72 (140 ) 51.4% 4 (2012) () 202 18-29 (47.5%)(81.7%) (62.9%)(22.8%)(22.3%)(21.3%)(54.0%) 3~5 (34.6%) 3~7 (66.3%) 3 (24.7%)(33.7%) (24.8%)( 2) 9
2 (n=202) 年 18-29 96 47.5 20,000 33 16.3 30-39 62 30.7 20,000~30,000 20 9.9 40 44 21.8 30,001~50,000 75 37.1 歷 50,001~90,000 54 26.8 () 37 18.3 90,001~130,000 20 9.9 165 81.7 1,000~3,000 57 28.2 127 62.9 3,001~7,000 94 46.5 74 36.6 7,001~15,000 44 21.8 1 0.5 15,000 7 3.5 45 22.3 134 66.3 44 21.8 50 24.7 42 20.8 18 9.0 26 12.9 25 12.4 68 33.7 20 9.8 50 24.8 29 14.4 109 54.0 1 0.5 93 46.0 () 54 26.7 () 202 (32.7%)(23.3%)(59.9%)2 (39.1%)(77.2%)(50.5%)( 3) 3 (n=202) 66 32.7 2 79 39.1 47 23.3 3-4 59 29.2 34 16.8 64 31.7 27 13.4 28 13.8 156 77.2 10
24 11.9 121 59.9 22 10.9 35 17.3 16 7.9 102 50.5 30 14.9 100 49.5 ()( 4) 2~3 (37.86%)3~4 (36.89%) 4~5 (35.35%) 2~3 (22.22%) 4 (n=202) 2,000 1 0.97 0.00 2,001-3,000 39 37.86 22 22.22 3,001-4,000 38 36.89 20 20.20 4,001-5,000 12 11.65 35 35.35 5,001-6,000 9 8.80 13 13.13 6,001-7,000 2 1.90 6 6.10 7,001 2 1.90 3 3.00 103 100.00 99 100.00 () 1.() ( 6)( )(4.91)(...)(4.86) (3.61)(...)(3.56)(4.97) (4.79) (3.91) (3.65)(4.65) (4.43) (4.35) 11
(3.72) 2.() (100.0%)(99.5%)(99.5%)(2.5%) (90.6%)(60.4%)(54.0%)(30.2%) OK(11.4%)(11.4%)(8.9%)( 5) 5 (n=202) 202 100.0 183 90.6 201 99.5 122 60.4 201 99.5 109 54.0 176 87.1 72 35.6 164 81.2 69 34.2 155 76.7 / 63 31.2 126 62.4 56 27.7 83 41.1 41 20.3 81 40.1 61 30.2 81 40.1 OK 23 11.4 78 38.6 23 11.4 5 2.5 DVD 20 9.9 18 8.9 () 1. 24 ( 6)(KMO)(.834) Kaiser (1974) 1.0 8 58.63%.851 (Cronbach's ).583.781 0.5 4 16 ( 31.64%) (12.27%)(7.53%)(7.20%) 12
6 (n=202) (16) 14 4.63 1.082.807.021.16.093 13 4.71 0.94.702.294.229.02 22 4.78 0.904.638.403.035.276 21 4.72 1.112.601.282 -.007.210 58 4.91 0.901.182.765.107.018 26 4.97 0.946.046.756.105.329 29 4.88 0.957.481.654.12.079 63 4.40 1.223.356.618.337 -.048 65 3.53 1.243.114.093.797.162 67 3.10 1.267.072.000.784.032 35 3.51 1.147.266.015.638.342 57 3.63 1.165.048.231.528.428 20 3.39 1.293.05.209.153.695 08 4.54 1.084.254 0.04.101.648 17 3.73 1.149 -.048 0.181.335.563 01 4.14 1.397.323-0.139.059.498 Cronbachs 0.772 0.781 0.744 0.583 (eigenvalue) 5.062 1.963 1.204 1.152 (%) 31.635 12.267 7.526 7.198 (%) 31.635 43.903 51.429 58.627 202 =.851 KMO =.834Bartlett 2 (120, N=202)= 1042.645p=.000 Kaiser Varimax Likert 1 6 2. 33 ( 7)(KMO)(.891) Kaiser (1974) 13
1.0 8 64.68%.862 (Cronbach's ).584.861 0.5 3 11 ( 43.35%) (11.43%) (9.91%) 7 (n=202) (11) 64 4.85.918.770.185 -.139 34 4.96.974.770.020.084 47 4.60.963.714.150.281 28 4.52 1.003.692.153.380 53 4.16 1.090.662.311.361 61 4.30 1.065.660.213.375 49 3.48 1.243.150.837.059 45 3.02 1.254.084.791.047 62 3.48 1.223.397.587.340 10 40 4.59 1.112.054.082.834 4.43 1.149.308.097.732 Cronbachs.861.696.584 (eigenvalue) 4.769 1.257 1.090 (%) 43.350 11.424 9.907 (%) 43.350 54.775 64.682 202 =.862 KMO =.891Bartlett 2 (55, N=202)= 812.624p=.000 Kaiser Varimax Likert 1 6 14
(Monty & Skidmore, 2003; Thrane, C., 2005; Andersson, D. E., 2010) Ln(P)=α+(β 1a H 1a +β 1b H 1b +...+β 1m H 1m )+(β 2a H 2a +β 2b H 2b +...+β 2e H 2e )+(β 3a H 3a +β 3b H 3b +β 3c H 3c )+(β 4a H 4a )+ε Ln(P)1iH1i 2iH2i3iH3i4iH4i () 廻 ( 8) VIF.840 1.990 (F =14.090p =.000) R 2 54.0% () / 15
//SPA/ 14 ( 77.2%)( 3.5%) ()... //(/) 8 (n=202) Ln() B Se Beta t p VIF.010.020.050.770.440.510 1.950.000.002.010.210.840.540 1.850 _.200.030.370 6.310.000.670 1.490 _.110.040.160 2.820.010.750 1.340 _ -.090.040 -.170-2.510.010.510 1.960.010.020.050.880.380.620 1.620.040.020.140 2.170.030.540 1.850 _.060.040.120 1.790.070.550 1.810 _.090.030.170 2.940.000.690 1.450 _ -.100.040 -.170-2.80.010.610 1.630 16
_ -.140.040 -.210-3.410.000.620 1.620 -.0100.020 -.030 -.420.670.350.840 -.040.020 -.160-2.300.020.500 1.990 -.030.020 -.120-2.130.030.710 1.400 _.410.060.440 6.760.000.550 1.830 _ -.009.050 -.110-1.700.090.550 1.810 _ OK.070.050.080 1.240.220.590 1.690 -.210.030 -.400-7.880.000.990 1.100 R 2 =.580, adj R 2 =.540 F(18, 183) =14.090, p =.000, n=202 () (31.64%)(12.27%) (7.53%)(7.20%) 58.63% (43.35%)(11.42%)(9.91%) (64.68%) () (F=14.090, p=.000) 54.0% () () () () 17
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