Drawing from costless signaling research, we examine the role of virtue language in Airbnb listings. We propose that virtue language espoused by entrepreneurs is beneficial for Airbnb price premiums—but only to a certain extent. Specifically, we argue that virtue language espoused by entrepreneurs has a curvilinear relationship with the price premium of their listings, suggesting that excessive use is seen as dishonest and becomes detrimental to their performance. We also suggest that this relationship is more pronounced when the entrepreneur is perceived to be more credible and when the entrepreneur is venturing into more conservative markets.

中文翻译：

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共享经济中的美德信号：Airbnb 企业家的美德语言对 Airbnb 价格溢价的影响

根据无成本信号研究，我们研究了美德语言在 Airbnb 房源中的作用。我们认为，企业家所倡导的美德语言有利于 Airbnb 的价格溢价，但只是在一定程度上。具体来说，我们认为企业家所拥护的美德语言与他们的上市价格溢价之间存在曲线关系，这表明过度使用被视为不诚实，并且有损于他们的业绩。我们还认为，当企业家被认为更可信并且企业家冒险进入更保守的市场时，这种关系会更加明显。