How do short‐term rental regulations affect market outcomes? Evidence from San Francisco's Airbnb registration requirement
研究旧金山Airbnb注册要求对市场的影响，发现政策使房源减少20%-27%，预订量下降22%-31%，价格上涨3.3%，并降低了长期房价，对政策制定者和平台运营者有参考价值。
Abstract We study the effects of San Francisco's Airbnb registration requirement on market outcomes. The policy reduced Airbnb availability by 20%–27%, nights booked by 22%–31%, and increased booking prices by 3.3% relative to listings in untreated surrounding cities. Relatively commercial listings experience larger availability and booking decreases than casual listings, and similar increases in booking prices. The fraction of available listings designated as commercial fell by 2 p.p. (15%) in the most Airbnb‐dense neighborhoods. Overall, the policy reduced nights booked by 27,182/month and hosts' revenue by $5 million/month. Long‐term housing prices also fell following enactment, suggesting an improvement in housing affordability.