Asymmetric Tourist Response to Price: Loss Aversion Segmentation

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dc.contributor.authorNicolau, Juan Luisen
dc.date.accessioned2024-07-31T17:28:13Zen
dc.date.available2024-07-31T17:28:13Zen
dc.date.issued2012-02-27en
dc.description.abstractThe objective of this article is to look into heterogeneity in loss aversion in order to detect how dispersed loss aversion is in tourism and to observe whether different degrees of loss aversion can lead to the identification of loss-aversion-based segments. Loss aversion is a prominent psychological human trait that causes asymmetric price reactions. Tourism literature has shown it is a critical characteristic with a significant, but heterogeneous, effect on tourist destination choice. However, so far no attempt has been made to look into loss aversion heterogeneity, and this article contributes to the literature by exploring, for the first time, the potential existence of groups of tourists that show differentiated asymmetric responses to price. The empirical application estimates the individual degree of loss aversion for each tourist, and detects five segments with different sensitivities. Relevant managerial implications are drawn in terms of implementing pricing strategies.en
dc.description.versionAccepted versionen
dc.format.extentPages 568-576en
dc.format.extent9 page(s)en
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1177/0047287511431321en
dc.identifier.eissn1552-6763en
dc.identifier.issn0047-2875en
dc.identifier.issue5en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/120803en
dc.identifier.volume51en
dc.language.isoenen
dc.publisherSageen
dc.relation.urihttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000307449000004&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=930d57c9ac61a043676db62af60056c1en
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectsegmentationen
dc.subjectloss aversionen
dc.subjectheterogeneityen
dc.subjectdestination choiceen
dc.subjectpriceen
dc.titleAsymmetric Tourist Response to Price: Loss Aversion Segmentationen
dc.title.serialJournal of Travel Researchen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherArticleen
dc.type.otherJournalen
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/Pamplin College of Businessen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/Hospitality and Tourism Managementen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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