IDEAS home Printed from https://ideas.repec.org/a/sae/toueco/v10y2004i1p45-61.html
   My bibliography  Save this article

Are Tourists Willing to Pay for Aesthetic Quality? An Empirical Assessment from Krabi Province, Thailand

Author

Listed:
  • Michelle Catherine Baddeley

    (Director of Studies and College Lecturer (Economics), Gonville and Caius College and Faculty of Economics and Politics, University of Cambridge, Cambridge CB2 1TA, UK)

Abstract

This paper assesses the relationships between the viability of the tourism industry and willingness to pay for aesthetic aspects of environmental quality. Incentives to provide high-quality tourism are limited given asymmetric information, adverse selection and positive search costs, with implications both for the sustainability of the tourism industry and for environmental sustainability more broadly defined. An econometric model is estimated in which willingness to pay is captured using resort rents and related to aesthetic quality, after controlling for service levels. A negative relationship is found. Some policy issues are assessed, focusing on the implications for tourism as an engine for sustainable development.

Suggested Citation

  • Michelle Catherine Baddeley, 2004. "Are Tourists Willing to Pay for Aesthetic Quality? An Empirical Assessment from Krabi Province, Thailand," Tourism Economics, , vol. 10(1), pages 45-61, March.
    • Handle: RePEc:sae:toueco:v:10:y:2004:i:1:p:45-61
    DOI: 10.5367/000000004773166583
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.5367/000000004773166583
    Download Restriction: no
    File URL: https://libkey.io/10.5367/000000004773166583?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. Twan Huybers & Jeff Bennett, 2000. "Impact of the Environment on Holiday Destination Choices of Prospective UK Tourists: Implications for Tropical North Queensland," Tourism Economics, , vol. 6(1), pages 21-46, March.
    2. Clem Tisdell, 2001. "Tourism Economics, the Environment and Development," Books, Edward Elgar Publishing, number 1972.
    3. Steven Salop, 1977. "The Noisy Monopolist: Imperfect Information, Price Dispersion and Price Discrimination," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 393-406.
    4. M. Thea Sinclair, 1997. "Tourism and Economic Development: A Survey," Studies in Economics 9703, School of Economics, University of Kent.
    5. Carl Shapiro, 1983. "Premiums for High Quality Products as Returns to Reputations," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(4), pages 659-679.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    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. Pedro Pintassilgo & João Albino Silva, 2007. "‘Tragedy of the Commons’ in the Tourism Accommodation Industry," Tourism Economics, , vol. 13(2), pages 209-224, June.
    2. Nicolae Lupu & Mihail Ovidiu Tanase & Remus-Alexandru Tontoroiu, 2013. "A straightforward x-ray on applying the ecolabel to the hotel business area," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(Special 7), pages 634-644, November.
    3. V. Santhakumar, 2009. "Entry Fees as an Instrument for Environmental Management: Study of a Wildlife Park in Kerala, India," Tourism Economics, , vol. 15(2), pages 453-466, June.
    4. José Luis Durán-Román & Pablo Juan Cárdenas-García & Juan Ignacio Pulido-Fernández, 2020. "Tourist Tax to Improve Sustainability and the Experience in Mass Tourism Destinations: The Case of Andalusia (Spain)," Sustainability, MDPI, vol. 13(1), pages 1-20, December.

    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. Joseph E. Stiglitz, 1993. "Post Walrasian and Post Marxian Economics," Journal of Economic Perspectives, American Economic Association, vol. 7(1), pages 109-114, Winter.
    2. Joseph E. Stiglitz, 2004. "Information and the Change in the Paradigm in Economics, Part 2," The American Economist, Sage Publications, vol. 48(1), pages 17-49, March.
    3. Villas-Boas, Sofia B, 2020. "Reduced Form Evidence on Belief Updating Under Asymmetric Information," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt08c456vk, Department of Agricultural & Resource Economics, UC Berkeley.
    4. Tahir Andrabi & Jishnu Das & Asim Ijaz Khwaja, 2017. "Report Cards: The Impact of Providing School and Child Test Scores on Educational Markets," American Economic Review, American Economic Association, vol. 107(6), pages 1535-1563, June.
    5. Schamel, Guenter, 2006. "Auction Markets for Specialty Food Products with Geographical Indications," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25606, International Association of Agricultural Economists.
    6. W. Bentley MacLeod, 2006. "Reputations, Relationships and the Enforcement of Incomplete Contracts," CESifo Working Paper Series 1730, CESifo.
    7. Rasmusen, Eric, 2017. "A model of trust in quality and North–South trade," Research in Economics, Elsevier, vol. 71(1), pages 159-170.
    8. Jansen, Marion & de Faria, André Lince, 2002. "Product labeling, quality and international trade," WTO Staff Working Papers DERD-2002-01, World Trade Organization (WTO), Economic Research and Statistics Division.
    9. Paul Resnick & Richard Zeckhauser & John Swanson & Kate Lockwood, 2006. "The value of reputation on eBay: A controlled experiment," Experimental Economics, Springer;Economic Science Association, vol. 9(2), pages 79-101, June.
    10. Tamara Todorova, 2004. "Quality Aspects of Economic Transition: The Effect of Inferior Quality on the Market," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 59-78.
    11. Hoff, Karla, 2008. "Joseph E. Stiglitz," Policy Research Working Paper Series 4478, The World Bank.
    12. Anne‐Célia Disdier & Carl Gaigné & Cristina Herghelegiu, 2023. "Do standards improve the quality of traded products?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1238-1290, November.
    13. Andreas Papatheodorou, 2003. "Modelling Tourism Development: A Synthetic Approach," Tourism Economics, , vol. 9(4), pages 407-430, December.
    14. Soumyanetra Munshi, 2017. "¡®Arranged¡¯ Marriage, Education, and Dowry: A Contract-theoretic Perspective," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 42(1), pages 35-71, March.
    15. Justus Haucap & Christian Wey, 1999. "Standortwahl als Franchisingproblem," CIG Working Papers FS IV 99-08, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    16. Dan Amiram & Zahn Bozanic & James D. Cox & Quentin Dupont & Jonathan M. Karpoff & Richard Sloan, 2018. "Financial reporting fraud and other forms of misconduct: a multidisciplinary review of the literature," Review of Accounting Studies, Springer, vol. 23(2), pages 732-783, June.
    17. Strausz, Roland, 2005. "Honest certification and the threat of capture," International Journal of Industrial Organization, Elsevier, vol. 23(1-2), pages 45-62, February.
    18. Dinopoulos, Elias & Livanis, Grigorios T. & West, Carol Taylor, 2005. "How Cool is C.O.O.L.?," Working Papers 15658, University of Florida, International Agricultural Trade and Policy Center.
    19. Thomas Apolte, 2002. "Jurisdictional competition for quality standards: Competition of laxity?," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 30(4), pages 389-402, December.
    20. Kirsten Burkhardt, 2011. "Le rôle des sociétés de capital-risque dans la formation d’alliances stratégiques:Une synthèse de littérature - The Role of Venture Capitalists in the Formation of Strategic Alliances:An academic lite," Working Papers CREGO 1111102, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.

    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:sae:toueco:v:10:y:2004:i:1:p:45-61. 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: SAGE Publications (email available below). General contact details of provider: .

    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.