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Return to Tourist Destination. Is it Reputation, After All?

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  • Francisco J. Ledesma
  • Manuel Navarro
  • Jorge V. Pérez-Rodríguez

Abstract

In this paper the hypothesis that repeated purchases in the tourism markets could be considered as a consequence of asymmetrical information problems is studied. This hypothesis is analysed with the case study of the island of Tenerife using the estimation of a count data model. It was found that the length of the stay and the information obtained from previous visits and/or relatives and friends might increase the return to a destination suggesting the presence of a reputation mechanism as proposed by Shapiro (1983). The determinants of the willingness to return were also estimated, confirming the main results.

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Paper provided by FEDEA in its series Working Papers on International Economics and Finance with number 03-01.

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Handle: RePEc:fda:fdadef:03-01

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  1. Eduardo S. Schwartz & Walter N. Torous, 1993. "Mortgage Prepayment and Default Decisions: A Poisson Regression Approach," Real Estate Economics, American Real Estate and Urban Economics Association, American Real Estate and Urban Economics Association, vol. 21(4), pages 431-449.
  2. George J. Mailath & Larry Samuelson, . ""Who Wants a Good Reputation?''," CARESS Working Papres, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences 98-12, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  3. Cameron, A Colin & Trivedi, Pravin K, 1986. "Econometric Models Based on Count Data: Comparisons and Applications of Some Estimators and Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 1(1), pages 29-53, January.
  4. Jerry A. Hausman & Bronwyn H. Hall & Zvi Griliches, 1984. "Econometric Models for Count Data with an Application to the Patents-R&D Relationship," NBER Technical Working Papers, National Bureau of Economic Research, Inc 0017, National Bureau of Economic Research, Inc.
  5. Shapiro, Carl, 1983. "Premiums for High Quality Products as Returns to Reputations," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 98(4), pages 659-79, November.
  6. Stiglitz, Joseph E., 1989. "Imperfect information in the product market," Handbook of Industrial Organization, Elsevier, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 13, pages 769-847 Elsevier.
  7. Gurmu, Shiferaw, 1991. "Tests for Detecting Overdispersion in the Positive Poisson Regression Model," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 9(2), pages 215-22, April.
  8. Gurmu, Shiferaw & Trivedi, Pravin K., 1992. "Overdispersion tests for truncated Poisson regression models," Journal of Econometrics, Elsevier, Elsevier, vol. 54(1-3), pages 347-370.
  9. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 89(4), pages 615-41, August.
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