An Integrative Reference-Dependent Framework of Tourist Satisfaction: Gains, Losses, and Motivational Moderators of Behavioral Intentions

Abstract

While satisfaction, motivation, revisit intention, and recommendation intention have been extensively studied in tourism research, existing models overlook the role of reference dependence in shaping tourist behavior. This study applies prospect theory and social comparison theory to analyze how satisfaction gains and losses influence behavioral intentions within a reference dependence framework, emphasizing the moderating role of travel motivations. Using a large-scale dataset of 106,504 foreign tourists visiting South Korea (2007–2023), findings reveal that the relationships between relative satisfaction and revisit and recommendation intentions are asymmetrical and reference-dependent, with reference points derived from travel motivations. Notably, loss aversion appears consistently across both revisit and recommendations intentions and certain travel motivations exhibit different degrees of loss aversion patterns. By integrating behavioral economics with motivational psychology, this study contributes to understanding how relative satisfaction, evaluated as gains and losses rather than absolute satisfaction levels, shows asymmetric associations across different motivations in relation to behavioral intentions.