IDEAS home Printed from https://ideas.repec.org/a/eee/touman/v35y2013icp209-221.html
   My bibliography  Save this article

Tourism, risk tolerance and competences: Travel organization and tourism hazards

Author

Listed:
  • Williams, Allan M.
  • Baláž, Vladimír

Abstract

Research on how individual tourists respond to risk has largely focussed on risk perceptions. This paper draws on behavioural economics to analyse the influence of risk tolerance and risk-related competences on how tourists organize their tourism travel, and the importance that they ascribe to specific types of tourism hazards. Whereas most tourism research on risk has been based on small, or highly age-specific surveys, or particular market segments, this paper utilises an innovative, large-scale survey drawn from the range of the UK population. There were significant differences between package tourists and individual ‘drifter’ tourists in terms of their socio-demographic characteristics, general and tourism-specific risk tolerance, and competence – both real and illusory – to manage risk. Age, and tolerance of both general and tourism-specific risks, were associated with the importance of hazards as deterrents to tourist behaviour, but the evidence for competences was mixed.

Suggested Citation

  • Williams, Allan M. & Baláž, Vladimír, 2013. "Tourism, risk tolerance and competences: Travel organization and tourism hazards," Tourism Management, Elsevier, vol. 35(C), pages 209-221.
  • Handle: RePEc:eee:touman:v:35:y:2013:i:c:p:209-221
    DOI: 10.1016/j.tourman.2012.07.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0261517712001331
    Download Restriction: no

    File URL: https://libkey.io/10.1016/j.tourman.2012.07.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Donkers, Bas & Melenberg, Bertrand & Van Soest, Arthur, 2001. "Estimating Risk Attitudes Using Lotteries: A Large Sample Approach," Journal of Risk and Uncertainty, Springer, vol. 22(2), pages 165-195, March.
    2. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    3. Craig R. Fox & Amos Tversky, 1995. "Ambiguity Aversion and Comparative Ignorance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(3), pages 585-603.
    4. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Jürgen Schupp & Gert G. Wagner, 2005. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," Discussion Papers of DIW Berlin 511, DIW Berlin, German Institute for Economic Research.
    5. Bettman, James R & Luce, Mary Frances & Payne, John W, 1998. "Constructive Consumer Choice Processes," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 25(3), pages 187-217, December.
    6. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    7. Camerer, Colin & Weber, Martin, 1992. "Recent Developments in Modeling Preferences: Uncertainty and Ambiguity," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 325-370, October.
    8. Daniel Ellsberg, 1961. "Risk, Ambiguity, and the Savage Axioms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 75(4), pages 643-669.
    9. Quintal, Vanessa Ann & Lee, Julie Anne & Soutar, Geoffrey N., 2010. "Risk, uncertainty and the theory of planned behavior: A tourism example," Tourism Management, Elsevier, vol. 31(6), pages 797-805.
    10. Robert B. Barsky & F. Thomas Juster & Miles S. Kimball & Matthew D. Shapiro, 1997. "Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 537-579.
    11. Boksberger, Philipp E. & Bieger, Thomas & Laesser, Christian, 2007. "Multidimensional analysis of perceived risk in commercial air travel," Journal of Air Transport Management, Elsevier, vol. 13(2), pages 90-96.
    12. Vladimir Balaz & Allan M. Williams, 2011. "Risk attitudes and migration experience," Journal of Risk Research, Taylor & Francis Journals, vol. 14(5), pages 583-596, May.
    13. Dan Lovallo & Colin Camerer, 1999. "Overconfidence and Excess Entry: An Experimental Approach," American Economic Review, American Economic Association, vol. 89(1), pages 306-318, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wang, Fatima & Lopez, Carmen, 2020. "Does communicating safety matter?," Annals of Tourism Research, Elsevier, vol. 80(C).
    2. Suellen Tapsall & Geoffrey N Soutar & Wendy A Elliott & Tim Mazzarol & Jennifer Holland, 2022. "COVID-19’s impact on the perceived risk of ocean cruising: A best-worst scaling study of Australian consumers," Tourism Economics, , vol. 28(1), pages 248-271, February.
    3. Cirer Costa, Joan Carles, 2014. "Petróleo: peligro mortal. Unas islas alquitranadas [Oil: Fatal danger. The Balearic Islands tarred]," MPRA Paper 58243, University Library of Munich, Germany.
    4. Yang, Elaine Chiao Ling & Khoo-Lattimore, Catheryn & Arcodia, Charles, 2017. "A systematic literature review of risk and gender research in tourism," Tourism Management, Elsevier, vol. 58(C), pages 89-100.
    5. Kateryna Horiachko, 2020. "Research of the impact of the terrorism and other factors on the consumers behavior," Technium Social Sciences Journal, Technium Science, vol. 7(1), pages 139-148, May.
    6. Osland Gregory E. & Mackoy Robert & McCormick Marleen, 2017. "Perceptions of personal risk in tourists’ destination choices: nature tours in Mexico," European Journal of Tourism, Hospitality and Recreation, Sciendo, vol. 8(1), pages 38-50, May.
    7. Jie Yin & Youcheng Chen & Yingchao Ji, 2021. "Effect of the event strength of the coronavirus disease (COVID‐19) on potential online organic agricultural product consumption and rural health tourism opportunities," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(5), pages 1156-1171, July.
    8. Olya, Hossein G.T. & Altinay, Levent, 2016. "Asymmetric modeling of intention to purchase tourism weather insurance and loyalty," Journal of Business Research, Elsevier, vol. 69(8), pages 2791-2800.
    9. Kapuściński, Grzegorz & Richards, Barry, 2016. "News framing effects on destination risk perception," Tourism Management, Elsevier, vol. 57(C), pages 234-244.
    10. Casidy, Riza & Wymer, Walter, 2016. "A risk worth taking: Perceived risk as moderator of satisfaction, loyalty, and willingness-to-pay premium price," Journal of Retailing and Consumer Services, Elsevier, vol. 32(C), pages 189-197.
    11. Andreas Strebinger & Horst Treiblmaier, 2022. "Profiling early adopters of blockchain-based hotel booking applications: demographic, psychographic, and service-related factors," Information Technology & Tourism, Springer, vol. 24(1), pages 1-30, March.
    12. Monika Małgorzata Wojcieszak-Zbierska & Anna Jęczmyk & Jan Zawadka & Jarosław Uglis, 2020. "Agritourism in the Era of the Coronavirus (COVID-19): A Rapid Assessment from Poland," Agriculture, MDPI, vol. 10(9), pages 1-19, September.
    13. Maja Turnšek & Mitja Gorenak & Boštjan Brumen & Janez Mekinc & Marjetka Rangus & Tanja Lešnik Štuhec, 2020. "Perceived Threat of COVID-19 and Future Travel Avoidance: Results from an Early Convenient Sample in Slovenia," Academica Turistica - Tourism and Innovation Journal, University of Primorska Press, vol. 13(1), pages 3-19.
    14. repec:thr:techub:1007:y:2020:i:1:p:139-148 is not listed on IDEAS
    15. Cirer-Costa, Joan Carles, 2015. "Pouring oil over the Balearic tourism industry," MPRA Paper 61164, University Library of Munich, Germany.
    16. Jeuring, Jelmer & Becken, Susanne, 2013. "Tourists and severe weather – An exploration of the role of ‘Locus of Responsibility’ in protective behaviour decisions," Tourism Management, Elsevier, vol. 37(C), pages 193-202.
    17. Yeongbae Choe & Hyesun Kim & Youngjoon Choi, 2022. "Willingness to pay for travel insurance as a risk reduction behavior: health-related risk perception after the outbreak of COVID-19," Service Business, Springer;Pan-Pacific Business Association, vol. 16(3), pages 445-467, September.
    18. Xuemin Liu & Jiaoju Ge & Ting Ren, 2021. "Uncertainty and Tourism Consumption Preferences: Evidence from the Representative Chinese City of Shenzhen," Sustainability, MDPI, vol. 13(8), pages 1-20, April.
    19. Katalin Lőrincz & Zsuzsanna Banász & János Csapó, 2020. "Customer Involvement in Sustainable Tourism Planning at Lake Balaton, Hungary—Analysis of the Consumer Preferences of the Active Cycling Tourists," Sustainability, MDPI, vol. 12(12), pages 1-18, June.
    20. Williams, Allan M. & Chen, Jason Li & Li, Gang & Baláž, Vladimír, 2022. "Risk, uncertainty and ambiguity amid Covid-19: A multi-national analysis of international travel intentions," Annals of Tourism Research, Elsevier, vol. 92(C).
    21. Maja Turnšek & Mitja Gorenak & Boštjan Brumen & Janez Mekinc & Marjetka Rangus & Tanja Lešnik Štuhec, 2020. "Perceived Threat of COVID-19 and Future Travel Avoidance: Results from an Early Convenient Sample in Slovenia," Academica Turistica - Tourism and Innovation Journal, University of Primorska Press, vol. 13(1), pages 3-19.
    22. Sanja Kovačić & Mihai Ciprian Mărgărint & Ruxandra Ionce & Đurđa Miljković, 2020. "What are the Factors affecting Tourist Behavior based on the Perception of Risk? Romanian and Serbian Tourists’ Perspective in the Aftermath of the recent Floods and Wildfires in Greece," Sustainability, MDPI, vol. 12(16), pages 1-22, August.
    23. M. Minsuk Shin & Eun Jeong Noh & Jiwon Lee, 2018. "Study abroad programs as a service convergence: an international marketing approach," Service Business, Springer;Pan-Pacific Business Association, vol. 12(2), pages 253-275, June.
    24. Francesc González-Reverté & Pablo Díaz-Luque & Joan Miquel Gomis-López & Soledad Morales-Pérez, 2018. "Tourists’ Risk Perception and the Use of Mobile Devices in Beach Tourism Destinations," Sustainability, MDPI, vol. 10(2), pages 1-21, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. José Lara Resende & George Wu, 2010. "Competence effects for choices involving gains and losses," Journal of Risk and Uncertainty, Springer, vol. 40(2), pages 109-132, April.
    2. Peter P. Wakker & Daniëlle R. M. Timmermans & Irma Machielse, 2007. "The Effects of Statistical Information on Risk and Ambiguity Attitudes, and on Rational Insurance Decisions," Management Science, INFORMS, vol. 53(11), pages 1770-1784, November.
    3. Irma Machielse & Danielle Timmermans & Peter Wakker, 2007. "The effects of statistical information on risk ambiguity attitudes, and on rational insurance decisions," Natural Field Experiments 00338, The Field Experiments Website.
    4. Mercè Roca & Robin Hogarth & A. Maule, 2006. "Ambiguity seeking as a result of the status quo bias," Journal of Risk and Uncertainty, Springer, vol. 32(3), pages 175-194, May.
    5. Fox, Craig R. & Weber, Martin, 2002. "Ambiguity Aversion, Comparative Ignorance, and Decision Context," Organizational Behavior and Human Decision Processes, Elsevier, vol. 88(1), pages 476-498, May.
    6. Olivier L’Haridon & Lætitia Placido, 2010. "Betting on Machina’s reflection example: an experiment on ambiguity," Theory and Decision, Springer, vol. 69(3), pages 375-393, September.
    7. Adam Booij & Bernard Praag & Gijs Kuilen, 2010. "A parametric analysis of prospect theory’s functionals for the general population," Theory and Decision, Springer, vol. 68(1), pages 115-148, February.
    8. Laurent Denant-Boemont & Olivier L’Haridon, 2013. "La rationalité à l'épreuve de l'économie comportementale," Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 35-89.
    9. Paul Dolan & Martin Jones, 2004. "Explaining Attitudes Towards Ambiguity: An Experimental Test Of The Comparative Ignorance Hypothesis," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(3), pages 281-301, August.
    10. Andreas Friedl & Katharina Lima de Miranda & Ulrich Schmidt, 2014. "Insurance demand and social comparison: An experimental analysis," Journal of Risk and Uncertainty, Springer, vol. 48(2), pages 97-109, April.
    11. Akay, Alpaslan & Martinsson, Peter & Medhin, Haileselassie & Trautmann, Stefan T., 2009. "Attitudes toward Uncertainty among the Poor: Evidence from Rural Ethiopia," IZA Discussion Papers 4225, Institute of Labor Economics (IZA).
    12. Hao, Li & Houser, Daniel & Mao, Lei & Villeval, Marie Claire, 2016. "Migrations, risks, and uncertainty: A field experiment in China," Journal of Economic Behavior & Organization, Elsevier, vol. 131(PA), pages 126-140.
    13. Hagen Lindstädt, 2004. "Entscheidungskalküle jenseits des subjektiven Erwartungsnutzens," Schmalenbach Journal of Business Research, Springer, vol. 56(6), pages 495-519, September.
    14. Yan Li & David Ahlstrom, 2020. "Risk-taking in entrepreneurial decision-making: A dynamic model of venture decision," Asia Pacific Journal of Management, Springer, vol. 37(3), pages 899-933, September.
    15. Soo Hong Chew & Junjian Yi & Junsen Zhang & Songfa Zhong, 2016. "Education and anomalies in decision making: Experimental evidence from Chinese adult twins," Journal of Risk and Uncertainty, Springer, vol. 53(2), pages 163-200, December.
    16. Hao, Li & Houser, Daniel & Mao, Lei & Villeval, Marie Claire, 2014. "A Field Study of Chinese Migrant Workers' Attitudes toward Risks, Strategic Uncertainty, and Competitiveness," IZA Discussion Papers 8227, Institute of Labor Economics (IZA).
    17. Hakan J. Holm & Sonja Opper & Victor Nee, 2013. "Entrepreneurs Under Uncertainty: An Economic Experiment in China," Management Science, INFORMS, vol. 59(7), pages 1671-1687, July.
    18. Banerjee, Debosree, 2014. "Ethnicity and Gender Differences in Risk, Ambiguity Attitude," GlobalFood Discussion Papers 180978, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    19. André Palma & Mohammed Abdellaoui & Giuseppe Attanasi & Moshe Ben-Akiva & Ido Erev & Helga Fehr-Duda & Dennis Fok & Craig Fox & Ralph Hertwig & Nathalie Picard & Peter Wakker & Joan Walker & Martin We, 2014. "Beware of black swans: Taking stock of the description–experience gap in decision under uncertainty," Marketing Letters, Springer, vol. 25(3), pages 269-280, September.
    20. Matthias Gysler & Jamie Kruse & Renate Schubert, 2002. "Ambiguity and Gender Differences in Financial Decision Making: An Experimental Examination of Competence and Confidence Effects," CER-ETH Economics working paper series 02/23, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:touman:v:35:y:2013:i:c:p:209-221. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/tourism-management .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.