\begin{tabular}{lrrrrrrrrrr} \toprule Sample / specification & Bedr. & Bathr. & Guests & Superhost & Guest Fav. & ln reviews & Rating & ln dist. & $N$ & $R^2$ \\ \midrule Baseline: nightly regime ($\hat{p}_i < 0.5$) & 0.160*** & 0.437*** & 0.331*** & 0.023 & -0.035 & 0.015 & 0.337*** & -0.035* & 2,480 & 0.509 \\ & (0.042) & (0.070) & (0.037) & (0.025) & (0.027) & (0.010) & (0.068) & (0.019) & & \\ Nightly regime, strict ($\hat{p}_i < 0.25$) & 0.161*** & 0.444*** & 0.329*** & 0.022 & -0.036 & 0.017* & 0.343*** & -0.034* & 2,475 & 0.516 \\ & (0.042) & (0.068) & (0.037) & (0.025) & (0.027) & (0.010) & (0.067) & (0.019) & & \\ Nightly regime, lenient ($\hat{p}_i < 0.75$) & 0.160*** & 0.438*** & 0.329*** & 0.020 & -0.039 & 0.014 & 0.354*** & -0.031* & 2,482 & 0.507 \\ & (0.042) & (0.070) & (0.037) & (0.025) & (0.027) & (0.010) & (0.069) & (0.019) & & \\ Price $\leq$ \$1{,}000 rule & 0.303*** & 0.409*** & 0.015 & 0.016 & -0.023 & -0.005 & 0.095 & -0.021 & 2,541 & 0.282 \\ & (0.057) & (0.083) & (0.055) & (0.030) & (0.033) & (0.012) & (0.101) & (0.025) & & \\ Price $\leq$ \$600 rule & 0.138*** & 0.247*** & 0.273*** & 0.020 & -0.001 & 0.015 & 0.254*** & -0.034* & 2,402 & 0.417 \\ & (0.042) & (0.072) & (0.040) & (0.024) & (0.027) & (0.010) & (0.077) & (0.020) & & \\ All priced listings (bimodal) & 0.604*** & 0.281** & -0.279*** & -0.240*** & -0.351*** & -0.131*** & 0.794*** & -0.084* & 3,456 & 0.158 \\ & (0.095) & (0.125) & (0.080) & (0.057) & (0.063) & (0.023) & (0.176) & (0.048) & & \\ Excluding hotels, B\&Bs, hostels & 0.122*** & 0.544*** & 0.327*** & 0.028 & -0.040 & 0.015 & 0.378*** & -0.040** & 2,335 & 0.513 \\ & (0.040) & (0.063) & (0.036) & (0.026) & (0.028) & (0.010) & (0.074) & (0.020) & & \\ Rated listings only & 0.175*** & 0.427*** & 0.314*** & 0.004 & -0.023 & 0.010 & 0.367*** & -0.032 & 2,246 & 0.509 \\ & (0.045) & (0.075) & (0.037) & (0.026) & (0.027) & (0.011) & (0.069) & (0.021) & & \\ Montreal only & 0.096 & 0.485*** & 0.313*** & -0.053 & 0.077 & 0.112*** & 0.336** & -0.173* & 506 & 0.543 \\ & (0.086) & (0.167) & (0.079) & (0.059) & (0.064) & (0.021) & (0.147) & (0.091) & & \\ Outside Montreal & 0.221*** & 0.369*** & 0.322*** & 0.030 & -0.041 & -0.017 & 0.309*** & -0.031 & 1,974 & 0.540 \\ & (0.048) & (0.075) & (0.043) & (0.027) & (0.030) & (0.011) & (0.079) & (0.019) & & \\ Trimmed 1\%/99\% within sample & 0.181*** & 0.301*** & 0.326*** & 0.019 & -0.012 & 0.009 & 0.342*** & -0.031* & 2,420 & 0.512 \\ & (0.037) & (0.066) & (0.032) & (0.023) & (0.025) & (0.010) & (0.066) & (0.017) & & \\ Weighted by $1 - \hat{p}_i$ & 0.160*** & 0.442*** & 0.329*** & 0.023 & -0.035 & 0.016 & 0.340*** & -0.034* & 2,480 & 0.512 \\ & (0.042) & (0.068) & (0.037) & (0.025) & (0.027) & (0.010) & (0.067) & (0.019) & & \\ 60 spatial-cell fixed effects & 0.173*** & 0.459*** & 0.307*** & 0.008 & -0.040 & 0.018* & 0.330*** & -0.021 & 2,480 & 0.505 \\ & (0.044) & (0.071) & (0.038) & (0.025) & (0.028) & (0.010) & (0.068) & (0.022) & & \\ \bottomrule \end{tabular}