A review of tourism and hospitality studies on behavioural economics
Bibliographic Data
| ID | 21689616 |
|---|---|
| Authors | Shina Li (0000-0003-0701-9938, Sun Yat-sen University, Guangzhou, China), Yixin Liu (0009-0009-0837-8298, Sun Yat-sen University, Guangzhou, China), Shanshan Dai (0000-0001-9067-2748, China University of Geosciences, Wuhan, China, corresponding author), Mengxin Chen (0000-0002-9122-4493, Sun Yat-sen University) |
| Year | 2022 |
| Volume | 28 |
| Issue | 3 |
| Pages | 843-859 |
| Publication date | 2022-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Tourism Economics (JOURNAL) |
| Journal identifiers | ISSN: 1354-8166 • E-ISSN: 2044-0375 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/13548166211060889 |
| OpenAlex | W4220952593 |
| Language | EN |
| Citations received | 13 |
| References cited | 65 |
Tourists display bounded rationality when they rely on heuristics to simplify complex decisions or make decisions not based purely on self-interest. Behavioural economics, which moves beyond the widely criticised assumptions that traditional economics makes regarding rational economic behaviour, provides useful theoretical foundations and approaches to tourism and hospitality studies. This paper reviews and discusses studies that evaluate bounded rational behaviour in the tourism and hospitality industry and examine influencing psychological factors. A review framework of economic behaviour is proposed to identify new perspectives and approaches to evaluating tourists’ complex decision-making processes. The paper also considers the prospects for applying behavioural economics theories to tourism and hospitality. It is suggested that limited attention and projection bias should be further examined in future research. The application of anchoring, mental accounting, nudge theory and neuroeconomics to tourism studies is also recommended
Applied economics · Behavioral economics · Behavioural economics · Bounded rationality · Business · Economics · Heuristics · Hospitality · Hospitality industry · Management science · Managerial economics · Microeconomics · Neuroeconomics · Political science · Positive economics · Public economics · Rationality · Tourism · Computer Science · Consumer Market Behavior and Pricing · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Marketing
Psychology of the tourist experience
Post-Covid impact of offering free virtual tours during the pandemic
Doughnut Economics
Transformative workcations in coastal tourism destinations
Leveraging experimental designs in tourism economics research
From screen to table
Analyzing Price Discrimination in Tourism Through Tripartite Evolutionary Game Theory
A behavioral approach to sports tourism expenditures
Progress in tourism demand research
Coherent forecasts for tourism demand with automated immutability constraints
Tourist decision-making under adverse weather conditions
Advancing Behavioral Economics Research in Tourism and Hospitality
Understanding the Role of Response Latency on Position Bias in Tourists’ Online Travel Planning
Overconfidence and Excess Entry
All Frames Are Not Created Equal
Paying Not to Go to the Gym
Mental Accounting and Consumer Choice
Psychology and Economics
The Power of Suggestion
Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets
The Framing of Decisions and the Psychology of Choice
Money illusion under tourists
Competitiveness in the visitor economy
Salience and Taxation
Favoritism Under Social Pressure
Evaluation nudge
A reference-dependent approach to WTP for priority
Experience economy in hospitality and tourism
Two factor model of consumer satisfaction
Do perceptions of time affect outbound-travel motivations and intention? An investigation among Chinese seniors
National identity and cultural festivals in postcolonial destinations
Evaluating research performance in tourism and hospitality
Globalisation as a Driver of Destination Competitiveness
Experimental Tests of the Endowment Effect and the Coase Theorem
The Road not Taken
Contextual Influences on Message Persuasion
The Effect of Red Background Color on Willingness-to-Pay
| Unique citing works | 13 |
|---|---|
| Citations per year | 4,33 |
| Citation span | 2023 - 2026 (4) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 13 |