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

  • Francisco J. Ledesma

    (Departamento de Análisis Económico, Universidad de La Laguna)

  • Manuel Navarro

    (Departamento de Análisis Económico, Universidad de La Laguna)

  • Jorge V.

    (Departamento de Análisis Económico, Universidad de La Laguna)

In this paper we study the hypothesis that the repeated purchases in the tourism markets could be considered as a consequence of asymmetrical information problems. We analyze this hypothesis with the case study of the Island of Tenerife by the estimation of a count data model. We obtain 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). We also estimate the determinants of the willingness to return confirming the main results.

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Paper provided by Asociación Española de Economía y Finanzas Internacionales in its series Working Papers with number 03-01.

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Length: 20 pages
Date of creation: Apr 2003
Date of revision:
Handle: RePEc:aee:wpaper:0301
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  1. Shapiro, Carl, 1983. "Premiums for High Quality Products as Returns to Reputations," The Quarterly Journal of Economics, MIT Press, vol. 98(4), pages 659-79, November.
  2. Mailath,G.J. & Samuelson,L., 1998. "Who wants a good reputation?," Working papers 19, Wisconsin Madison - Social Systems.
  3. Gurmu, Shiferaw & Trivedi, Pravin K., 1992. "Overdispersion tests for truncated Poisson regression models," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 347-370.
  4. 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, vol. 21(4), pages 431-449.
  5. 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., vol. 1(1), pages 29-53, January.
  6. Stiglitz, Joseph E., 1989. "Imperfect information in the product market," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 13, pages 769-847 Elsevier.
  7. 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 0017, National Bureau of Economic Research, Inc.
  8. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-41, August.
  9. Gurmu, Shiferaw, 1991. "Tests for Detecting Overdispersion in the Positive Poisson Regression Model," Journal of Business & Economic Statistics, American Statistical Association, vol. 9(2), pages 215-22, April.
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