Seminario de Investigación del GIDE: Crowding and price dynamics in tourism destinations choice

El jueves 30 de julio a las 18 horas tendrá lugar, vía Zoom, una nueva sesión de Seminario de Investigación del GIDE titulado Crowding and price dynamics in tourism destinations choice. Esta charla consistirá en la presentación del trabajo de investigación de Nicolás Garrido (Departamento de Economía - Universidad Diego Portales - Chile).

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Resumen

This paper analyzes how the preferences for crowding in destinations by tourists interact along the time with the pricing strategies of the resorts to determines the number of tourist visiting a tourist attraction. Destinations are experience goods and the stakeholders of the destinations use multiple signals to reduce the uncertainty of the consumers before their choice. Taking into consideration companies that seek to increase their profits and
customers with budget restrictions and with both individual and social preferences, this work analyzes price dynamics and conditions of market competition, under an
Agent-Based Modelling (ABM) setting. An emerging result of this process is the formation of companies with greater market power and high customer differentiation, although less than in the case without budget restrictions. At the same time, adjustment speed of the companies have non-linear effects on prices, the benefits of the resorts and individuals’ utility. Moreover, price dynamics is highly sensitive to the set of information that agents in the market have.

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