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Mean-variance-skewness in destination efficiency framework:
The case of France

 

Louisa R. Andriamasy1 and Hanitra H. Rakotondramaro2 *

 

Received: 19/06/2015 Accepted: 04/02/2016

 

1University of Evry Val d'Essonne, EvryCedex, France; email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
2IAE-Antenne of Mende-University of Perpignan, Avenue du Marechal Foch, 48000 Mende, France. email:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
*Corresponding author

 

Abstract
 

Number of overnight stays is an important variable in the context of tourism destination competitiveness. Recently, researchers suggested the mean-variance approach as a tool to measure the efficiency of this variable. However, this methodology is inadequate if the variable does not follow a normal distribution or if the decision-makers do not have a quadratic utility function. Thus, higher moments, such as skewness or/and kurtosis should be taking into consideration. The paper introduces the portfolio theory with skewness as an efficiency measure of the number of international overnight stays in France from 2002 to 2012. First, we show that this variable is not normally distributed. Then, we use a non-parametric approach based on the Mean-Variance-Skewness (MVS) introduced by Briec et al. (2007) to measure the performance of four different regional origins of international tourists staying in France. Finally, we demonstrate that the decision-makers should take the high-return/ low-risk option with a high-skewness.

 

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Keywords: shortage function, mean-variance-skewness, efficiency, DMO.
Citation: Andriamasy L., H. Rakotondramaro (2016) Mean-variance-skewness in destination efficiency framework: The case of France. European Journal of Tourism Research 14, pp. 92-100

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European Journal of Тourism Research