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The role of information and choice under uncertainty

In: A Modern Guide to Tourism Economics

Author

Listed:
  • Juan Luis Nicolau
  • Abhinav Sharma

Abstract

This chapter presents a panoramic overview of the evolution of the paradigms that have informed travelers' choice under uncertainty and the approaches the literature has followed to analyze decision in tourism economics. With this purpose, the chapter first outlines the foundational conceptual frameworks with their assumptions and expectations–stemming from the expected utility theory to prospect theory–to go on with the different main topics that the literature has tackled. From traditional issues such as pricing to modern topics such as online reviews, the versatility is remarkable. Future research lines are highlighted.

Suggested Citation

  • Juan Luis Nicolau & Abhinav Sharma, 2022. "The role of information and choice under uncertainty," Chapters, in: Robertico Croes & Yang Yang (ed.), A Modern Guide to Tourism Economics, chapter 7, pages 116-133, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20341_7
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