A note on the contribution of Valuation economics in tourism

Authors

  • Angeliki N. Menegaki Department of Economics and Management of Tourism and Cultural Units, Agricultural University of Athens-EU Conexus, Campus of Amfissa, Greece. Email: amenegaki@aua.gr
  • Panagiota P. Dionysopoulou General Directorate of Tourism Ministry, Athens, 10557, Greece. Email: yoldi63@gmail.com
  • George M. Agiomirgianakis Department of Accounting and Finance, Mediterranean University of Greece; Hellenic Open University, Economic Analysis and Policy Lab, School of Social Sciences, Patras, Greece, Email: georgeagios@hmu.gr

Keywords:

Stated preference techniques, tourism economics, revealed preference techniques, valuation, value transfer

Abstract

Valuation economics is a field which promises a wide range of applications for tourism. However, the new born nature of tourism economics has not yet unveiled the vast opportunities for tourist policy information and the pricing information embedded therein. This paper aims to briefly conceptualize these opportunities with examples on the methods and relevant examples of literature and pave the way towards their accommodation in the emerging tourism economics field. Market failure occurrences in tourism drive the need for total economic value estimation for a wide array of tourist goods through the employment of stated preference techniques and revealed preference techniques. Tourism can also benefit from the benefit transfer approach initially conceptualized in environmental economics which have contributed to a great development and expansion of these methods.

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Published

2021-07-02

How to Cite

Menegaki, A. ., Dionysopoulou, P., & Agiomirgianakis, G. . (2021). A note on the contribution of Valuation economics in tourism. European Journal of Tourism Research, 29, 2904. Retrieved from https://ejtr.vumk.eu/index.php/about/article/view/2415