Author, as appears in the article.: Hernandez-Maskivker, Gilda-Maria; Nicolau, Juan L; Ryan, Gerard; Valverde, Mireia
Department: Gestió d'Empreses
URV's Author/s: HERNÁNDEZ MASKIVKER, GILDA MARÍA / Ryan, Gerard Anthony / Valverde Aparicio, Mireia
Keywords: Waiting times Quantile regression Priority Loss aversion Express pass
Abstract: © 2018 Elsevier Ltd This article introduces the notions of reference dependence and loss aversion to the analysis of waiting times in tourism to examine their effects on people's willingness to pay (WTP). The empirical study carried out using quantile regression confirms that visitors to theme parks who are willing to pay a high price for express passes are reference-dependent (their WTP for an express pass is influenced by the difference between the expected waiting time and the perceived waiting time) and loss averse (a loss in waiting time, i.e. waiting longer than expected, has a greater effect on WTP as this loss is more annoying than an equal-sized gain in waiting time being satisfying). The implications of these findings for the literature on waiting in services are considered.
Thematic Areas: Transportation Tourism, leisure and hospitality management Strategy and management Management Interdisciplinary research in the social sciences Interdisciplinar Hospitality, leisure, sport & tourism Environmental studies Engenharias iii Educação física Economia Development Ciencias sociales Ciências ambientais Biodiversidade Administração pública e de empresas, ciências contábeis e turismo
licence for use: https://creativecommons.org/licenses/by/3.0/es/
ISSN: 02615177
Author's mail: mireia.valverde@urv.cat gerard.ryan@urv.cat
Author identifier: 0000-0002-0174-3207 0000-0002-5008-9862
Record's date: 2024-06-28
Papper version: info:eu-repo/semantics/acceptedVersion
Papper original source: Tourism Management. 71 165-172
APA: Hernandez-Maskivker, Gilda-Maria; Nicolau, Juan L; Ryan, Gerard; Valverde, Mireia (2019). A reference-dependent approach to WTP for priority. Tourism Management, 71(), 165-172. DOI: 10.1016/j.tourman.2018.10.003
Licence document URL: https://repositori.urv.cat/ca/proteccio-de-dades/
Entity: Universitat Rovira i Virgili
Journal publication year: 2019
Publication Type: Journal Publications
Repositori URV