Lin, Gabrielle and Lin, Michael S and Song, Haiyan (2024) An Assessment of Prospect Theory in Tourism Decision-Making Research. Journal of Travel Research, 63 (2). pp. 275-297. DOI https://doi.org/10.1177/00472875231171673
Lin, Gabrielle and Lin, Michael S and Song, Haiyan (2024) An Assessment of Prospect Theory in Tourism Decision-Making Research. Journal of Travel Research, 63 (2). pp. 275-297. DOI https://doi.org/10.1177/00472875231171673
Lin, Gabrielle and Lin, Michael S and Song, Haiyan (2024) An Assessment of Prospect Theory in Tourism Decision-Making Research. Journal of Travel Research, 63 (2). pp. 275-297. DOI https://doi.org/10.1177/00472875231171673
Abstract
Prospect theory has been an essential theoretical foundation for behavioral economics, as recognized with the Nobel Prize in economic sciences in 2002. The growing interest in behavioral economics among tourism researchers necessitates a systematic assessment of prospect theory and its application in tourism research to critically examine the current status of tourism decision-making studies. This study therefore clarifies the theoretical background of prospect theory and analyzes 93 published studies to examine how prospect theory has performed in explaining tourism decision-making. The study also evaluates the application of prospect theory in tourism research and provides future research directions with respect to under-researched dimensions, reference points, dynamic decision-making processes, and the logical continuity and systemization of prospect theory.
Item Type: | Article |
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Uncontrolled Keywords: | behavioral economics; decision making; prospect theory; tourist behavior |
Divisions: | Faculty of Arts and Humanities Faculty of Arts and Humanities > Edge Hotel School |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 08 Mar 2024 15:37 |
Last Modified: | 10 Apr 2024 11:39 |
URI: | http://repository.essex.ac.uk/id/eprint/37657 |
Available files
Filename: AAM.pdf