Overlapping Generations or Infinitely-Lived Agents: Intergenerational Altruism and the Economics of Global Warming

Do we need an overlapping generations model for the economics of global warming? To answer this question, an infinitely-lived agent (ILA) approach and an overlapping generations (OLG) model are contrasted. ILA and OLG can be viewed as polar representations of intergenerational altruism. With ILA an immortal agent acts through his investment/savings decisions as trustee on the behalf of the future generations. With OLG, agents need not behave altruistic. They simply save during working years and dissave completely during retirement. Nevertheless, ILA and OLG must not differ in their implication for greenhouse policy. Greenhouse gas abatement is a straightforward alternative to physical capital formation and, even without altruism, each age cohort has an incentive to provide current abatement in order to reduce future damages attributable to climate change. Indeed, under reasonable assumptions and parameter values, our simulations reveal such an invariance result. Provided carbon taxes are the only policy tool and tax revenues are recycled through socially mandated rules, projections of economic growth, climate change and energy consumption are only insignificantly affected by the choice of approach.     

New technology and the urban environment

Technology has always had an influence on the form of settlements, but only since the coming of Information Technology has it aroused much interest from academics and planners. The impact that IT is likely to have on urban areas is debated, some foreseeing decentralisation and the end of place, while others see evidence of the centralisation of control in a global economy. Other new technologies may also affect cities as new materials provide the opportunity for different styles of building. As we enter the 21st century, however, we do so with the largest stock of urban capital ever, much of which is ageing and in need of maintenance. Technology is part of a complex interrelationship of influences on urban areas and much of it will have to be retrofitted on to the pre-existing environment.     

Recreational benefits from a marine protected area: A travel cost analysis of Lundy

Marine Protected Areas (MPAs) have been proposed in many countries as a means of conserving parts of the marine environment. In some cases, MPAs may also confer recreational benefits. In this paper, a travel cost model is used to estimate the non-market recreational benefits arising from the Lundy Island Marine Nature Reserve (MNR). The estimated mean consumer surplus for visiting Lundy was found to range from £359 to £574 per trip. The designation of No Take Zone (NTZ) has also contributed to higher consumer surplus values. This result provides a strong economic justification for the designation of MPAs for recreational as well as conservation purposes.     

The Wildlife Tourism Market to Kenya (2002–2003)

An understanding of the wildlife tourism market is fundamental for the development of a competitive and sustainable tourism industry. It is imperative to product development and segmentation, especially with regard to understanding trends in the market place. This study was undertaken to understand better the demographic preferences of wildlife tourists and to determine their preferences, expectations, and choices. Various personal and trip attributes of the visitors were considered. A linear structural relationship (LISREL) approach was applied in order to estimate the structural equation systems by using its maximum likelihood estimator. Using data from 1,566 tourists who had completed their holidays in Kenya, it was found that various forms of travel based on packaging do not significantly affect the preferences of tourists. However, tourists' characteristics and their trip attributes have significant effects on these variables. Advanced age, higher socio-economic status, larger group size, and shorter length of stay are associated with higher preference for wildlife viewing.     

Modeling International Travel Arrangements for Taiwanese Travelers: Potential Fits

Abstract

This paper presents a choice model of international travel arrangements for potential Taiwanese FIT (Foreign Independent Travel) travelers. Previous studies were based mostly on package vacations, with little attention given to FIT travelers. Recent years have indicated a transition toward FIT. Since this transition is likely to continue, it is important for travel and tourism organizations and for marketers to understand FIT individuals. This study distinguishes potential FIT travelers from non-FIT travelers, identifies variables useful in making this prediction, and provides recommendations to travel and tourism organizations of host countries. The findings indicate that Taiwanese FIT travelers are likely to be younger, male, highly educated, budget conscious, travel with a larger party size for purposes of meeting interesting and friendly local people, stay for longer periods of time, and have taken many trips in the last three years that in volved spending at least four nights away from home.     

Transforming competitiveness into economic benefits: Does tourism stimulate economic growth in more competitive destinations?

This research note investigates the impact of a destination's competitiveness upon tourism's contribution to economic growth using a cross-section with 131 countries. Destination competitiveness is measured with the World Economic Forum's Travel and Tourism Competitiveness Index, while tourism's contribution to economic growth is measured with the growth decomposition methodology. Results reveal that destination competitiveness has no statistically significant impact on tourism's contribution to economic growth. Tourism policy implications and directions for future research are also discussed.     

The hybrid tourist

Inspired by the recent emergence of the hybrid consumer in the marketing literature, the present article defines hybrid tourists and assesses empirical evidence of their existence. Results indicate that hybrid tourists—tourists whose segment membership for the next trip cannot be predicted from their segment membership of their last trip—are the norm, rather than the exception. Only one quarter of tourists remain in the same motivation segment across more than one trip. Results are similar for expenditure segments. Tourist hybridity exists both with respect to travel motivations and expenditure. Personal characteristics predict hybridity. New approaches of market segmentation are needed to cater for the hybrid tourist.     

Do perceptions of time affect outbound-travel motivations and intention? An investigation among Chinese seniors

How people conceptualise time can play a critical role in their travel intention. However, relatively little research attention has been directed to the links between time perspective, outbound-travel motivation and outbound-travel intention. In this study, survey data from a sample of Chinese seniors were analysed to test hypotheses regarding these links. The results showed that present-time perspective and future-time perspective were directly related to travel motivation, and that the associations between present and future perspectives and travel intention were fully mediated by travel motivation. These findings not only highlight the relevance of time-perspective styles to travel research, but also have specific implications for tourism-destination marketers with senior audiences.