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More Means Worse: Asymmetric Information, Spatial Displacement and Sustainable Heritage Tourism

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  • Silvia Caserta
  • Antonio Russo

Abstract

This paper analyses the market transformation in heritage tourism destinations when excessive tourism demand determines the emergence of a class of excursionists among visitors. Building on the approach of Keane (1997) and Shapiro (1983), some important dimensions of sustainable tourism development are highlighted. The lesser capacity of excursionists to learn the true quality of the tourist goods provides an opportunity for producers to cut back on quality. To serve high quality goods and keep up the reputation of the destination, producers need to gain a mark-up on price that might not be sustained in a competitive market. Hence the decline in ``high-paying'' demand segments, increasingly substituted by visitors with lesser quality expectations, has significant consequences on the use and preservation of the heritage. The proposed formulation allows the identification of appropriate policy instruments to reverse this process. Copyright Kluwer Academic Publishers 2002

Suggested Citation

  • Silvia Caserta & Antonio Russo, 2002. "More Means Worse: Asymmetric Information, Spatial Displacement and Sustainable Heritage Tourism," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 26(4), pages 245-260, November.
    • Handle: RePEc:kap:jculte:v:26:y:2002:i:4:p:245-260
    DOI: 10.1023/A:1019905923457
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    Cited by:

    1. Cuccia, Tiziana & Rizzo, Ilde, 2011. "Tourism seasonality in cultural destinations: Empirical evidence from Sicily," Tourism Management, Elsevier, vol. 32(3), pages 589-595.
    2. G.M. Peter Swann, 2010. "The Rise, Fall and Renaissance of the Resort: A Simple Economic Model," Tourism Economics, , vol. 16(1), pages 45-62, March.
    3. Angelo Antoci & Paolo Russu & Pier Luigi Sacco & Giorgio Tavano Blessi, 2022. "Preying on beauty? The complex social dynamics of overtourism," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(1), pages 379-400, January.
    4. Tiziana Cuccia & Roberto Cellini, 2007. "Is cultural heritage really important for tourists? A contingent rating study," Applied Economics, Taylor & Francis Journals, vol. 39(2), pages 261-271.
    5. Chen, Yong & Mak, Barry & Li, Zhou, 2013. "Quality deterioration in package tours: The interplay of asymmetric information and reputation," Tourism Management, Elsevier, vol. 38(C), pages 43-54.
    6. Figini, Paolo & Vici, Laura, 2012. "Off-season tourists and the cultural offer of a mass-tourism destination: The case of Rimini," Tourism Management, Elsevier, vol. 33(4), pages 825-839.
    7. Malgorzata Ogonowska & Dominique Torre, 2013. "Residents' Influence on the Adoption of Environmental Norms in Tourism," GREDEG Working Papers 2013-17, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    8. Laszlo Kulcsar & Laszlo A. Bodrogai, 2017. "Tourism Development And Cultural Heritage: The Stakeholders’ Opinion On The Role Of The Restored Esterházy Palace In Western Hungary," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 26(2), pages 813-827, december.
    9. Robert Jeyakumar Nathan & Vijay Victor & Melanie Tan & Maria Fekete-Farkas, 0. "Tourists’ use of Airbnb app for visiting a historical city," Information Technology & Tourism, Springer, vol. 0, pages 1-26.
    10. Cuccia, Tiziana & Guccio, Calogero & Rizzo, Ilde, 2016. "The effects of UNESCO World Heritage List inscription on tourism destinations performance in Italian regions," Economic Modelling, Elsevier, vol. 53(C), pages 494-508.
    11. Robert Jeyakumar Nathan & Vijay Victor & Melanie Tan & Maria Fekete-Farkas, 2020. "Tourists’ use of Airbnb app for visiting a historical city," Information Technology & Tourism, Springer, vol. 22(2), pages 217-242, June.
    12. Yang, Chunyu & Huang, Jue & Lin, Zhibin & Zhang, Danxia & Zhu, Ying & Xu, Xinghua & Chen, Mei, 2018. "Evaluating the symbiosis status of tourist towns: The case of Guizhou Province, China," Annals of Tourism Research, Elsevier, vol. 72(C), pages 109-125.
    13. Segre Giovanna & Russo Antonio Paolo, 2005. "Collective property rights for glass manufacturing in Murano: Where culture makes or breaks local economic development," EBLA Working Papers 200505, University of Turin.
    14. Ganzaroli, Andrea & De Noni, Ivan & van Baalen, Peter, 2017. "Vicious advice: Analyzing the impact of TripAdvisor on the quality of restaurants as part of the cultural heritage of Venice," Tourism Management, Elsevier, vol. 61(C), pages 501-510.
    15. Calogero Guccio & Domenico Lisi & Marco Martorana & Anna Mignosa, 2017. "On the role of cultural participation in tourism destination performance: an assessment using robust conditional efficiency approach," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(2), pages 129-154, May.
    16. Douglas S. Noonan & Ilde Rizzo, 2017. "Economics of cultural tourism: issues and perspectives," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(2), pages 95-107, May.
    17. Juan Nicolau, 2010. "Culture-sensitive tourists are more price insensitive," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 34(3), pages 181-195, August.
    18. Pier Luigi Sacco & Guido Ferilli & Giorgio Tavano Blessi & Massimiliano Nuccio, 2013. "Culture as an Engine of Local Development Processes: System-Wide Cultural Districts II: Prototype Cases," Growth and Change, Wiley Blackwell, vol. 44(4), pages 571-588, December.
    19. Stauvermann, Peter Josef & Kumar, Ronald Ravinesh, 2017. "Productivity growth and income in the tourism sector: Role of tourism demand and human capital investment," Tourism Management, Elsevier, vol. 61(C), pages 426-433.
    20. Lluís Bonet, 2013. "Heritage tourism," Chapters, in: Ilde Rizzo & Anna Mignosa (ed.), Handbook on the Economics of Cultural Heritage, chapter 19, pages i-i, Edward Elgar Publishing.
    21. Pier Luigi Sacco & Guido Ferilli & Giorgio Tavano Blessi & Massimiliano Nuccio, 2013. "Culture as an Engine of Local Development Processes: System-Wide Cultural Districts I: Theory," Growth and Change, Wiley Blackwell, vol. 44(4), pages 555-570, December.
    22. Nelson Andrade-Valbuena & Hugo Baier-Fuentes & Magaly Gaviria-Marin, 2022. "An Overview of Sustainable Entrepreneurship in Tourism, Destination, and Hospitality Research Based on the Web of Science," Sustainability, MDPI, vol. 14(22), pages 1-26, November.
    23. Virginia Milone & Simone Pizzi, 2019. "Managing the Complexity through New Forms of Financial Reporting: A Multiple Case Study on Italian Public Museums," Administrative Sciences, MDPI, vol. 9(4), pages 1-14, December.
    24. Nicolau, Juan L., 2011. "Differentiated price loss aversion in destination choice: The effect of tourists’ cultural interest," Tourism Management, Elsevier, vol. 32(5), pages 1186-1195.
    25. Denis Claude & Georges Zaccour, 2009. "Investment in Tourism Market and Reputation," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(5), pages 797-817, October.

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