The Impact of Information Availability on Destination Choice | Zendy

Combes F. | Zendy; De Palma A. | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Premium

The Impact of Information Availability on Destination Choice

Author(s) -

Combes F.,

De Palma A.

Publication year - 2015

Publication title -

journal of economics and management strategy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.672

H-Index - 68

eISSN - 1530-9134

pISSN - 1058-6407

DOI - 10.1111/jems.12152

Subject(s) - destinations , population , variable (mathematics) , set (abstract data type) , value (mathematics) , value of information , welfare , choice set , computer science , tourist destinations , microeconomics , business , operations research , econometrics , geography , economics , mathematics , tourism , demography , artificial intelligence , mathematical analysis , archaeology , machine learning , sociology , market economy , programming language

Consider a population of agents who choose one among a set of destinations located along a rectilinear road. Each of these destinations has a certain utility, modeled by a random variable. We compare a situation where the agents have to explore the destinations to observe the value of their utilities, to a situation where they know these values beforehand. We show that more information yields a higher welfare to the agents, and also, perhaps counter‐intuitively, higher distance traveled.

This content is not available in your region!

Continue researching here.

Having issues? You can contact us here

Accelerating Research