nep-tur New Economics Papers
on Tourism Economics
Issue of 2016‒07‒30
three papers chosen by
Laura Vici
Università di Bologna

  1. The Validity of the Tourism-Led Growth Hypothesis for Thailand By Jiranyakul, Komain
  2. Overbooking By Ely, Jeffrey; Garrett, Daniel F.; Hinnosaar, Toomas
  3. Information Sources Used by European Tourists: A Cross-Cultural Study By Tor Korneliussen; Michael Greenacre

  1. By: Jiranyakul, Komain
    Abstract: This paper explores the validity of the tourism-led growth hypothesis for Thailand using quarterly data during 1995 and 2014. The results from the analysis show that the relationship between tourism receipts and real GDP is nonlinear without asymmetric adjustment. The nonlinearity in this relationship is found from the results of threshold cointegration tests. The causality analysis indicates no causality running from tourism receipts to real GDP in both the long run and the short run. The finding in this paper gives some policy implications.
    Keywords: Tourism receipts, economic growth, threshold cointegration, causality
    JEL: C22 F14 L80
    Date: 2016–07
  2. By: Ely, Jeffrey; Garrett, Daniel F.; Hinnosaar, Toomas
    Abstract: We consider optimal pricing policies for airlines when passengers are uncertain at the time of ticketing of their eventual willingness to pay for air travel. Auctions at the time of departure efficiently allocate space and a profit maximizing airline can capitalize on these gains by overbooking ights and repurchasing excess tickets from those passengers whose realized value is low. Nevertheless profit maximization entails distortions away from the efficient allocation. Under regularity conditions, we show that the optimal mechanism can be implemented by a modified double auction. In order to encourage early booking, passengers who purchase late are disadvantaged. In order to capture the information rents of passengers with high expected values, ticket repurchases at the time of departure are at a subsidized price, sometimes leading to unused capacity.
    Keywords: airlines, overbooking, revenue management, dynamic mechanism design
    JEL: D42 D44 D82
    Date: 2016–07
  3. By: Tor Korneliussen; Michael Greenacre
    Abstract: This study investigates which information sources European tourists use when making decisions about their travel/ holiday plans. Using survey data based on national representative samples of tourists from 27 member countries of the European Union allows generalizable conclusions to be drawn. The data were analysed using correspondence analysis of overall country data. The findings indicate that there are systematic differences in how information sources are related to one another and that the various national cultures within the European Union have influence on tourists' use of information sources. Six segments of information source behaviour are revealed. These segments reflect economic development and the national cultures of European nations. Management implications are highlighted. The findings of this study can be used to segment tourists' use of information sources according to economic development and national culture.
    Keywords: cross-cultural, information search, European Union, Economic development, national culture, tourism.
    JEL: Z32 C19 C38 C55
    Date: 2016–07

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