Analysis of Core Stakeholder Behaviour in the Tourism Community Using Economic Game Theory

In a Nash equilibrium, every participant's strategy is the optimal reaction to the strategies of others. Based on economic theory, this paper analyses core stakeholders' behaviour in the tourism community at Qingcheng Mountain, Chengdu, China. Taking taxation, land prices and employment as...

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Bibliographic Details
Published in:Tourism economics : the business and finance of tourism and recreation 2015-12, Vol.21 (6), p.1169-1187
Main Authors: Yang, Zhenzhi, Shi, Hong, Yang, Dan, Ren, Xuanyu, Cai, Yinchun
Format: Article
Language:English
Subjects:
Decision making
Economic theory
Economics
Game theory
Local government
Mountains
Stakeholders
Studies
Sustainable development
Sustainable tourism
Taxation
Tourism
Tourism development
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Summary:In a Nash equilibrium, every participant's strategy is the optimal reaction to the strategies of others. Based on economic theory, this paper analyses core stakeholders' behaviour in the tourism community at Qingcheng Mountain, Chengdu, China. Taking taxation, land prices and employment as the payoffs, and the local government, the community and the investors as the players, the incomplete information static game model is applied to outline the stakeholders' behaviour. The paper also examines who benefits the most and who occupies a dominant position. The results indicate that the game strategy of residents in Qingcheng Mountain is influenced by the investors. The influence of the investors is also crucial in the decision making mechanism of the tourism community to maintain sustainable tourism development.
ISSN:1354-8166
2044-0375
DOI:10.5367/te.2015.0521