Satisfaction and Expenditure in Wineries: A Prospect Theory Approach

IF 4.4 3区 管理学 Q1 HOSPITALITY, LEISURE, SPORT & TOURISM Journal of Hospitality & Tourism Research Pub Date : 2021-07-22 DOI:10.1177/10963480211031407
R. Sellers, J. Nicolau
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引用次数: 3

Abstract

Visitor satisfaction has been shown to be a critical determinant of visitor expenditure in wineries. Although the relationship between visitor satisfaction and expenditure in wineries has been investigated in previous literature, we have unearthed potential intricacies that emerge when this relationship is analyzed within the reference dependence framework of prospect theory. To fill this gap, we use segment-based reference points to capture the singularity of winery visitors, and results show that demographics and psychographics confirm reference dependence. When reference points are based on psychographics, loss aversion is confirmed (lowering visitor satisfaction has a greater negative impact on expenditure than the positive impact derived from increasing visitor satisfaction), while diminishing sensitivity is observed for losses (the effect of the variations in visitor satisfaction shifts depending on the distance from the individual’s reference point). Interestingly, when the reference points are obtained through demographics, loss aversion is reversed. Relevant managerial implications are outlined.
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葡萄酒厂的满意度与支出:一种前景理论方法
游客满意度已被证明是葡萄酒厂游客支出的关键决定因素。尽管在以前的文献中已经调查了游客满意度和酒庄支出之间的关系,但当在前景理论的参考依赖框架内分析这种关系时,我们发现了潜在的复杂性。为了填补这一空白,我们使用基于片段的参考点来捕捉酒庄访客的奇异性,结果表明,人口统计和心理图证实了参考依赖性。当参考点基于心理图时,损失厌恶得到了证实(降低游客满意度对支出的负面影响比提高游客满意度带来的正面影响更大),同时观察到对损失的敏感性降低(游客满意度变化的影响取决于与个人参考点的距离)。有趣的是,当通过人口统计获得参考点时,损失厌恶情绪发生了逆转。概述了相关的管理影响。
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来源期刊
Journal of Hospitality & Tourism Research
Journal of Hospitality & Tourism Research HOSPITALITY, LEISURE, SPORT & TOURISM-
CiteScore
10.10
自引率
9.50%
发文量
54
期刊介绍: The Journal of Hospitality & Tourism Research (JHTR) is an international scholarly research journal that publishes high-quality, refereed articles that advance the knowledge base of the hospitality and tourism field. JHTR focuses on original research, both conceptual and empirical, that clearly contributes to the theoretical development of our field. The word contribution is key. Simple applications of theories from other disciplines to a hospitality or tourism context are not encouraged unless the authors clearly state why this context significantly advances theory or knowledge. JHTR encourages research based on a variety of methods, qualitative and quantitative.
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