Modeling Information Asymmetries in Tourism My Citations

Abstract

Tourism has long been described as an information asymmetric market where consumers are unable to fully assess the quality of the products offered. A recognized consequence of this situation is that the space available for high quality products is greatly reduced. The diffusion of information through the World Wide Web may have reduced this asymmetry. Indeed, it is possible to envisage circumstances where consumers are better informed than suppliers about the real quality and value of the offerings. Using a set of agent-based numerical simulations, this chapter compares two possible asymmetric conditions. The results are discussed with respect to possible strategies to be adopted by both buyers and sellers in order to re-balance satisfaction (customers) and earnings (suppliers). Keywords: information asymmetry, tourism market, tourism experience, agent-based modeling, numerical simulations. 1.

Publication
Tourism Marketing: On Both Sides of the Counter