Journal of Tourism Sciences 2023 KCI Impact Factor : 2.7
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pISSN : 1226-0533 / eISSN : 2713-6388
- https://journal.kci.go.kr/JTS
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The Effects of Experiential Components on Gain and Loss Values in the Hospitality and Tourism Experience Economy
- Journal of Tourism Sciences
- Abbr : JTS
- 2018, 42(8), pp.147-163
- DOI : 10.17086/JTS.2018.42.8.147.163
- Publisher : The Tourism Sciences Society Of Korea
- Research Area : Social Science > Tourism
1숙명여자대학교
Excellent Accredited
ABSTRACT
Derived from the theory of experienced utility where individuals make a decision based on hedonic gains rather than capital gains, the experience economy suggests that industries should increase their revenue by increasing consumers’ hedonic experiences. Such decision makers also tend to heuristically evaluate potential hedonic losses. Therefore, this study investigated the gain values and experience loss values of hospitality and tourism products and influential experiential components. A total of 543 usable responses collected through an online survey company were analyzed using descriptive analysis and regression analysis. The results showed that many respondents preferred to purchase nature/sightseeing-related products, paying an average of $230, but with approximately 41% as experience loss values. More specifically, novelty, relaxation, and personal relevance positively influenced the perceived financial values of hospitality and tourism products, whereas, novelty and educational values had positive influences on the perceived experience loss values associated with the corresponding product. More discussion is included about managing gain and loss values.
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