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1\begin{table}[htbp]2\centering3\caption{Hedonic Regression Results}4\label{tab:hedonic}5\begin{tabular}{lccccccccc}6\toprule7Variable & Model 1 - Structural & Model 2 - + Amenities & Model 3 - + Host & Model 4 - + Reviews & Model 5 - + Location & Model 6 - + Neighbourhood & Model 7 - + NLP & Model 8 - + Spatial & Model 9 - Full Hedonic \\8\midrule9const & 6.502*** & 6.696*** & 6.766*** & & & & & & \\10 & (0.579) & (0.591) & (0.561) & & & & & & \\11bedrooms & 0.918** & 0.904** & 0.904*** & 0.795** & 0.789** & 0.789** & 0.771** & 1.141*** & 1.141*** \\12 & (0.281) & (0.288) & (0.265) & (0.257) & (0.264) & (0.264) & (0.265) & (0.311) & (0.311) \\13bathrooms & -0.016 & -0.032 & -0.020 & -0.105 & -0.112 & -0.115 & -0.003 & -0.164 & -0.164 \\14 & (0.211) & (0.216) & (0.201) & (0.180) & (0.183) & (0.183) & (0.193) & (0.226) & (0.226) \\15guests_count & 0.096 & 0.115 & 0.219 & 0.012 & -0.023 & -0.024 & 0.034 & 0.187 & 0.187 \\16 & (0.203) & (0.204) & (0.198) & (0.195) & (0.197) & (0.197) & (0.205) & (0.252) & (0.252) \\17is_entire_home & 0.065 & 0.061 & 0.163 & 0.096 & 0.101 & 0.101 & 0.023 & 0.055 & 0.055 \\18 & (0.075) & (0.075) & (0.097) & (0.101) & (0.101) & (0.101) & (0.106) & (0.135) & (0.135) \\19is_private_room & 0.361*** & 0.340*** & 0.220** & 0.355*** & 0.289*** & 0.291*** & -0.375*** & -0.263 & -0.263 \\20 & (0.079) & (0.079) & (0.080) & (0.078) & (0.079) & (0.080) & (0.113) & (0.135) & (0.135) \\21log_accommodates & -0.997 & -1.060 & -1.327 & -0.522 & -0.312 & -0.313 & -0.657 & -1.094 & -1.094 \\22 & (0.824) & (0.829) & (0.797) & (0.768) & (0.778) & (0.779) & (0.847) & (1.135) & (1.135) \\23log_bedrooms & -1.429* & -1.373* & -1.433* & -1.272* & -1.283* & -1.281* & -1.299* & -2.053** & -2.053** \\24 & (0.686) & (0.691) & (0.654) & (0.613) & (0.627) & (0.628) & (0.657) & (0.774) & (0.774) \\25log_bathrooms & 0.497 & 0.613 & 0.622 & 0.737 & 0.702 & 0.706 & 0.523 & 0.645 & 0.645 \\26 & (0.426) & (0.433) & (0.414) & (0.404) & (0.410) & (0.410) & (0.426) & (0.541) & (0.541) \\27bathrooms_per_guest & -0.136 & -0.201 & -0.244 & -0.401 & -0.364 & -0.366 & -0.445* & -0.441 & -0.441 \\28 & (0.201) & (0.204) & (0.195) & (0.224) & (0.229) & (0.229) & (0.225) & (0.335) & (0.335) \\29bedrooms_per_guest & 0.008 & 0.011 & -0.015 & -0.096 & -0.091 & -0.090 & -0.117 & 0.018 & 0.018 \\30 & (0.432) & (0.436) & (0.401) & (0.346) & (0.360) & (0.362) & (0.361) & (0.529) & (0.529) \\31large_capacity_listing & 0.035 & 0.033 & -0.028 & 0.040 & 0.032 & 0.033 & 0.050 & -0.125 & -0.125 \\32 & (0.115) & (0.116) & (0.114) & (0.115) & (0.114) & (0.114) & (0.113) & (0.148) & (0.148) \\33accommodates_sq & -0.002 & -0.003 & -0.007 & -0.001 & 0.000 & 0.000 & -0.001 & -0.005 & -0.005 \\34 & (0.006) & (0.006) & (0.006) & (0.006) & (0.006) & (0.006) & (0.006) & (0.008) & (0.008) \\35bedrooms_sq & -0.048* & -0.048* & -0.047** & -0.040* & -0.039* & -0.039* & -0.036* & -0.063** & -0.063** \\36 & (0.020) & (0.021) & (0.018) & (0.017) & (0.018) & (0.018) & (0.017) & (0.020) & (0.020) \\37bathrooms_sq & 0.014 & 0.015 & 0.014 & 0.014 & 0.014 & 0.014 & 0.008 & 0.028* & 0.028* \\38 & (0.015) & (0.016) & (0.014) & (0.012) & (0.013) & (0.013) & (0.013) & (0.013) & (0.013) \\39amenities_count & & 0.005 & 0.009 & 0.003 & 0.003 & 0.003 & 0.006 & 0.003 & 0.003 \\40 & & (0.010) & (0.010) & (0.010) & (0.010) & (0.010) & (0.010) & (0.013) & (0.013) \\41amenity_richness_index & & -0.189*** & -0.191*** & -0.129** & -0.340*** & -0.343*** & -0.306*** & -0.269* & -0.269* \\42 & & (0.017) & (0.016) & (0.046) & (0.083) & (0.084) & (0.087) & (0.106) & (0.106) \\43luxury_index & & 0.437 & 0.342 & 0.507 & 0.473 & 0.478 & 0.380 & 0.445 & 0.445 \\44 & & (0.474) & (0.468) & (0.461) & (0.458) & (0.458) & (0.452) & (0.571) & (0.571) \\45business_travel_index & & -0.761 & -0.824 & -0.836 & -0.799 & -0.804 & -0.801 & -1.156* & -1.156* \\46 & & (0.463) & (0.451) & (0.465) & (0.462) & (0.462) & (0.456) & (0.560) & (0.560) \\47family_comfort_index & & -0.257 & 0.014 & 0.368 & 0.313 & 0.308 & 0.300 & 0.921 & 0.921 \\48 & & (0.490) & (0.480) & (0.489) & (0.483) & (0.483) & (0.478) & (0.588) & (0.588) \\49leisure_index & & -0.132 & -0.035 & 0.236 & 0.265 & 0.264 & 0.203 & 0.027 & 0.027 \\50 & & (0.481) & (0.470) & (0.466) & (0.464) & (0.464) & (0.461) & (0.561) & (0.561) \\51remote_work_index & & -0.263 & -0.252 & -0.394 & -0.312 & -0.308 & -0.408 & -0.090 & -0.090 \\52 & & (0.486) & (0.479) & (0.485) & (0.484) & (0.484) & (0.478) & (0.568) & (0.568) \\53pets_allowed & & 0.129 & 0.069 & 0.016 & 0.006 & 0.007 & 0.029 & 0.023 & 0.023 \\54 & & (0.076) & (0.075) & (0.076) & (0.075) & (0.075) & (0.074) & (0.093) & (0.093) \\55is_superhost & & & -0.094* & -0.147 & -0.152 & -0.151 & -0.114 & 0.039 & 0.039 \\56 & & & (0.037) & (0.100) & (0.099) & (0.099) & (0.095) & (0.105) & (0.105) \\57superhost_flag & & & -0.094* & -0.147 & -0.152 & -0.151 & -0.114 & 0.039 & 0.039 \\58 & & & (0.037) & (0.100) & (0.099) & (0.099) & (0.095) & (0.105) & (0.105) \\59host_professional_dummy & & & -0.000 & -0.000 & 0.000*** & 0.000*** & 0.000*** & 0.000 & 0.000 \\60 & & & (0.000) & (0.000) & (0.000) & (0.000) & (0.000) & (0.000) & (0.000) \\61multi_listing_host & & & 0.346*** & 0.273*** & 0.242*** & 0.244*** & -0.025 & 0.002 & 0.002 \\62 & & & (0.068) & (0.070) & (0.069) & (0.070) & (0.078) & (0.078) & (0.078) \\63superhost_x_entire_home & & & -0.177 & -0.028 & -0.037 & -0.037 & -0.017 & -0.009 & -0.009 \\64 & & & (0.096) & (0.102) & (0.101) & (0.101) & (0.100) & (0.121) & (0.121) \\65guest_favorite_flag & & & -0.194*** & -0.204* & -0.197* & -0.197* & -0.142 & -0.012 & -0.012 \\66 & & & (0.026) & (0.098) & (0.097) & (0.097) & (0.093) & (0.102) & (0.102) \\67is_guest_favorite & & & -0.194*** & -0.204* & -0.197* & -0.197* & -0.142 & -0.012 & -0.012 \\68 & & & (0.026) & (0.098) & (0.097) & (0.097) & (0.093) & (0.102) & (0.102) \\69rating & & & & 0.591 & 0.616 & 0.618 & 0.605 & 1.052* & 1.052* \\70 & & & & (0.526) & (0.520) & (0.521) & (0.515) & (0.494) & (0.494) \\71num_reviews & & & & 0.002 & 0.002 & 0.002 & 0.002 & 0.003** & 0.003** \\72 & & & & (0.001) & (0.001) & (0.001) & (0.001) & (0.001) & (0.001) \\73log_reviews & & & & -0.518*** & -0.521*** & -0.521*** & -0.452*** & -0.400*** & -0.400*** \\74 & & & & (0.055) & (0.055) & (0.055) & (0.056) & (0.066) & (0.066) \\75review_quality & & & & -0.169 & -0.171 & -0.172 & -0.177 & -0.165 & -0.165 \\76 & & & & (0.135) & (0.134) & (0.134) & (0.136) & (0.135) & (0.135) \\77reputation_score & & & & 0.041 & 0.044 & 0.044 & 0.046 & 0.103 & 0.103 \\78 & & & & (0.064) & (0.063) & (0.064) & (0.063) & (0.061) & (0.061) \\79cleanliness_premium & & & & 0.267** & 0.268** & 0.268** & 0.283** & 0.207 & 0.207 \\80 & & & & (0.098) & (0.097) & (0.098) & (0.097) & (0.110) & (0.110) \\81location_rating_premium & & & & -0.047 & -0.045 & -0.044 & -0.148 & -0.146 & -0.146 \\82 & & & & (0.099) & (0.098) & (0.099) & (0.098) & (0.116) & (0.116) \\83has_reviews & & & & 4.556** & 11.999*** & 12.118*** & 10.831*** & 9.511* & 9.511* \\84 & & & & (1.619) & (2.929) & (2.961) & (3.085) & (3.738) & (3.738) \\85quality_score & & & & 0.010 & 0.010 & 0.010 & 0.004 & -0.017 & -0.017 \\86 & & & & (0.018) & (0.018) & (0.018) & (0.017) & (0.018) & (0.018) \\87distance_to_center & & & & & -0.000 & -0.000 & -0.000 & -0.000 & -0.000 \\88 & & & & & (0.000) & (0.000) & (0.000) & (0.000) & (0.000) \\89lat & & & & & -0.153*** & -0.155*** & -0.095** & -0.090* & -0.090* \\90 & & & & & (0.035) & (0.035) & (0.037) & (0.045) & (0.045) \\91long & & & & & 0.008 & 0.008 & 0.009 & 0.004 & 0.004 \\92 & & & & & (0.016) & (0.016) & (0.016) & (0.019) & (0.019) \\93spatial_cluster & & & & & & -0.001 & -0.014*** & -0.013** & -0.013** \\94 & & & & & & (0.004) & (0.004) & (0.005) & (0.005) \\95title_length & & & & & & & 0.010* & 0.007 & 0.007 \\96 & & & & & & & (0.004) & (0.006) & (0.006) \\97title_word_count & & & & & & & -0.094* & -0.058 & -0.058 \\98 & & & & & & & (0.042) & (0.053) & (0.053) \\99luxury_language_score & & & & & & & -0.239 & 0.218 & 0.218 \\100 & & & & & & & (0.351) & (196.632) & (196.632) \\101cozy_language_score & & & & & & & 0.000 & 0.000 & 0.000 \\102 & & & & & & & (0.000) & (0.000) & (0.000) \\103professional_tone_score & & & & & & & -0.173 & -0.623 & -0.623 \\104 & & & & & & & (0.414) & (19.507) & (19.507) \\105tourism_language_score & & & & & & & -0.112 & -0.209 & -0.209 \\106 & & & & & & & (0.099) & (0.115) & (0.115) \\107text_embed_0 & & & & & & & 3.000*** & 2.800*** & 2.800*** \\108 & & & & & & & (0.353) & (0.430) & (0.430) \\109text_embed_1 & & & & & & & 0.247 & 0.479 & 0.479 \\110 & & & & & & & (0.366) & (0.442) & (0.442) \\111text_embed_2 & & & & & & & -0.400 & -0.085 & -0.085 \\112 & & & & & & & (0.395) & (0.460) & (0.460) \\113text_embed_3 & & & & & & & -0.035 & -0.055 & -0.055 \\114 & & & & & & & (0.218) & (0.244) & (0.244) \\115local_density_500m & & & & & & & & -0.008** & -0.008** \\116 & & & & & & & & (0.003) & (0.003) \\117local_density_1km & & & & & & & & 0.003** & 0.003** \\118 & & & & & & & & (0.001) & (0.001) \\119local_avg_price_500m & & & & & & & & 0.000*** & 0.000*** \\120 & & & & & & & & (0.000) & (0.000) \\121local_avg_price_1km & & & & & & & & -0.000 & -0.000 \\122 & & & & & & & & (0.000) & (0.000) \\123N & 3412 & 3412 & 3412 & 2861 & 2857 & 2857 & 2857 & 1906 & 1906 \\124R2 & 0.0516 & 0.0575 & 0.0985 & 0.1871 & 0.1979 & 0.1980 & 0.2249 & 0.2735 & 0.2735 \\125Adj_R2 & 0.0477 & 0.0516 & 0.0918 & 0.1779 & 0.1880 & 0.1877 & 0.2125 & 0.2544 & 0.2544 \\126AIC & 11911.4 & 11904.2 & 11760.5 & 9381.7 & 9336.4 & 9338.3 & 9258.6 & 6103.0 & 6103.0 \\127BIC & 12003.4 & 12039.2 & 11920.0 & 9578.3 & 9550.9 & 9558.8 & 9532.6 & 6380.6 & 6380.6 \\128\bottomrule129\end{tabular}130\par\smallskip\footnotesize131\textit{Note:} $^{***}p<0.001$, $^{**}p<0.01$, $^{*}p<0.05$.132\end{table}