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Journal article
Slutsky equation in tourism: an empirical study in Vietnam
Anatolia : an international journal of tourism and hospitality research, Vol.online-ahead-of-print
06/29/2022
Web of Science ID: WOS:000817862600001
Abstract
The purpose of the paper is to apply the Slutsky equation to the Bass diffusion model to examine the price and income elasticities of hotel demand in different tourist destinations including cultural, commercial, and coastal cities. The sample was a set of 120 points by ex-post data from the Smith Travel Research in Vietnam. Findings indicate the price in a leisure destination in the beginning of the tourist area life cycle is inelastic, whereas the prices in the business and culture destinations at the end of the cycle are elastic. This study identifies the hidden cost when demand increases in the three destinations, ultimately allowing hoteliers to effectively strategize when making price changes within their industry.
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Details
- Title
- Slutsky equation in tourism: an empirical study in Vietnam
- Publication Details
- Anatolia : an international journal of tourism and hospitality research, Vol.online-ahead-of-print
- Resource Type
- Journal article
- Publisher
- Routledge
- Number of pages
- 11
- Copyright
- © 2022 Informa UK Limited, trading as Taylor & Francis Group
- Identifiers
- WOS:000817862600001; 99380171950906600
- Academic Unit
- Commerce; Lewis Bear Jr. College of Business
- Language
- English