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This study analyzes the influence of site personalization, first impression, and design on young consumers’ loyalty to tourism websites. It is a new and necessary study, taking into account the multimedia profile and purchasing potential of the studied segment, the need for increasing online consumer loyalty, and the tourism websites’ relevance. Based on previous findings and using a sample of 609 young consumers, a causal model (PLS) is designed that is practical, novel, and significantly predicts online loyalty. The descriptive analysis results show young consumers’ positive attitudes toward e-commerce and their high online use and potential for making online purchases. The significant influence of site personalization on consumers’ first impression is also confirmed. In addition, first impression influence perceived website quality, and, in turn, this quality affects consumers’ online purchase intention and loyalty to the website. Finally, it is shown that online purchase intention has a direct and positive influence on website loyalty. Thus, this study provides tourism managers with the knowledge to encourage young consumers’ loyalty to their websites in a market orientation context. It can be achieved by acting on the site’s personalisation, the first impression, and the design of the site. The generational approach (Generation Z) also allows the conclusions and implications to be transferred to other regions and sectors.
José Martínez-González; Carmen Álvarez-Albelo. Influence of Site Personalization and First Impression on Young Consumers’ Loyalty to Tourism Websites. Sustainability 2021, 13, 1425 .
AMA StyleJosé Martínez-González, Carmen Álvarez-Albelo. Influence of Site Personalization and First Impression on Young Consumers’ Loyalty to Tourism Websites. Sustainability. 2021; 13 (3):1425.
Chicago/Turabian StyleJosé Martínez-González; Carmen Álvarez-Albelo. 2021. "Influence of Site Personalization and First Impression on Young Consumers’ Loyalty to Tourism Websites." Sustainability 13, no. 3: 1425.
Airfare subsidies for residents in remote tourism destinations can negatively affect the local tourism industry. In this paper, we study the effects of airfare subsidies on a remote region's tourism sector with a theoretical model of air transport and tourism service transactions involving a remote tourism region, the rest of the country and the rest of the world. We show that firms' widespread packaging strategies in tourism markets, i.e. selling tourism packages composed of air transport and tourism services at a single price, acts as hidden price discrimination, since the packages are cheaper than buying the services separately. Thus, in the presence of higher airfares due to a subsidy, the tourists not entitled to the subsidy have incentives to switch to a cheaper alternative, namely tourism packages. Consequently, a packaging strategy can lessen or even avoid the negative impacts of the subsidy on a region's tourism sector.
Carmen D. Álvarez-Albelo; Raúl Hernández-Martín; Noemi Padrón-Fumero. The effects on tourism of airfare subsidies for residents: The key role of packaging strategies. Journal of Air Transport Management 2020, 84, 101772 .
AMA StyleCarmen D. Álvarez-Albelo, Raúl Hernández-Martín, Noemi Padrón-Fumero. The effects on tourism of airfare subsidies for residents: The key role of packaging strategies. Journal of Air Transport Management. 2020; 84 ():101772.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo; Raúl Hernández-Martín; Noemi Padrón-Fumero. 2020. "The effects on tourism of airfare subsidies for residents: The key role of packaging strategies." Journal of Air Transport Management 84, no. : 101772.
This paper studies optimal pricing when a monopolist firm produces two complementary goods and may undertake a bundling strategy. To do so, a modified version of Yan and Bandyopadhyay’s (2011) framework is used, in which the efficacy of the bundling strategy depends positively on the degree of complementarity of goods. Two main results are obtained. First, mixed bundling turns out to be the optimal strategy for the firm, since it yields higher profits than pure unbundling and pure bundling. Second, sales and profits from the bundling (unbundling) strategy increase (decrease) as the products become more complementary, which entails an empirically sensible behavior.
Carmen D. Álvarez-Albelo. The role of complementarity of goods in a mixed bundling strategy. Economics and Business Letters 2020, 9, 31 -40.
AMA StyleCarmen D. Álvarez-Albelo. The role of complementarity of goods in a mixed bundling strategy. Economics and Business Letters. 2020; 9 (1):31-40.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo. 2020. "The role of complementarity of goods in a mixed bundling strategy." Economics and Business Letters 9, no. 1: 31-40.
We show that pure Ricardian trade can account for the empirical evidence that domestic growth is more affected by foreign growth than by trade openness. To do this, we develop a two-country model involving a backward economy that exchanges intermediate goods with a faster growing country. We obtain three main results regarding growth and welfare of the backward economy: (i) the growth-enhancing comparative advantage is facilitated by faster foreign growth; (ii) the growth rate may be negatively affected or unaffected by a domestic tariff, while it is always positively impacted by foreign growth; and (iii) a domestic tariff could be welfare-improving.
Carmen D. Alvarez-Albelo; Antonio Manresa; Mónica Pigem-Vigo. Growing through trade in intermediate goods: the role of foreign growth and domestic tariffs. Scottish Journal of Political Economy 2018, 65, 414 -436.
AMA StyleCarmen D. Alvarez-Albelo, Antonio Manresa, Mónica Pigem-Vigo. Growing through trade in intermediate goods: the role of foreign growth and domestic tariffs. Scottish Journal of Political Economy. 2018; 65 (4):414-436.
Chicago/Turabian StyleCarmen D. Alvarez-Albelo; Antonio Manresa; Mónica Pigem-Vigo. 2018. "Growing through trade in intermediate goods: the role of foreign growth and domestic tariffs." Scottish Journal of Political Economy 65, no. 4: 414-436.
Carmen D. Álvarez-Albelo; Raúl Hernández-Martín; Noemi Padrón-Fumero. Air passenger duties as strategic tourism taxation. Tourism Management 2017, 60, 442 -453.
AMA StyleCarmen D. Álvarez-Albelo, Raúl Hernández-Martín, Noemi Padrón-Fumero. Air passenger duties as strategic tourism taxation. Tourism Management. 2017; 60 ():442-453.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo; Raúl Hernández-Martín; Noemi Padrón-Fumero. 2017. "Air passenger duties as strategic tourism taxation." Tourism Management 60, no. : 442-453.
Carmen D. Álvarez-Albelo. Potential Fiscal Revenues From Hydrocarbon Extraction for the Tourism Region of the Canary Islands. Sociology Study 2017, 7, 1 .
AMA StyleCarmen D. Álvarez-Albelo. Potential Fiscal Revenues From Hydrocarbon Extraction for the Tourism Region of the Canary Islands. Sociology Study. 2017; 7 (5):1.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo. 2017. "Potential Fiscal Revenues From Hydrocarbon Extraction for the Tourism Region of the Canary Islands." Sociology Study 7, no. 5: 1.
This paper studies the role of trading partner’ growth and a domestic import tariff in the possibility of growing through trade. To this purpose, a Ricardian model is developed in which a backward economy seeks to increase its long-run growth rate simply by trading with a faster growing partner. It is found that domestic growth may be either negatively affected or unaffected by a domestic import tariff, while it is always positively impacted by foreign growth. Furthermore, convergence in growth rate can emerge both with an import tariff and under free trade. Ours results are consistent with the empirical evidence.
Carmen D. Álvarez-Albelo; Antonio Manresa; Monica Pigem. Growing Through Trade: The Role of Foreign Growth and Domestic Tariffs. SSRN Electronic Journal 2015, 1 .
AMA StyleCarmen D. Álvarez-Albelo, Antonio Manresa, Monica Pigem. Growing Through Trade: The Role of Foreign Growth and Domestic Tariffs. SSRN Electronic Journal. 2015; ():1.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo; Antonio Manresa; Monica Pigem. 2015. "Growing Through Trade: The Role of Foreign Growth and Domestic Tariffs." SSRN Electronic Journal , no. : 1.
This paper fills a literature gap on the economic rationale and implications of moratoria on accommodation development in mature tourism destinations. Moratoria are government-led capacity controls, which reduce market competition and seek to create economic rents. The paper provides a comprehensive set of economic foundations justifying the enactment of moratoria in situations characterised by over-capacity, low profitability, little innovation, environmental damage, strategic behaviour and sectoral imbalances. It notes that the implementation of these controls could be related to regulatory capture, rent seeking and clientelism. While capacity controls can restrain tourism over-expansion and can help fix some of its undesirable consequences, they may lead to multiple and varied unforeseen effects on the rejuvenation process and on the rest of the economy, issues also addressed in the paper. Moratoria relate to the concept of de-growth, which is a highly contested area of discussion. A moratorium does not ensure renovation of private and public capital or maintain the natural environment. It may give rise to detrimental strategies by firms, opening up room for corruption. To be effective, a moratorium must be accompanied by complementary policies, besides being coherently embodied in a broader tourism and regional rejuvenation strategy.
Raúl Hernández-Martín; Carmen D. Álvarez-Albelo; Noemi Padrón-Fumero. The economics and implications ofmoratoriaon tourism accommodation development as a rejuvenation tool in mature tourism destinations. Journal of Sustainable Tourism 2015, 23, 881 -899.
AMA StyleRaúl Hernández-Martín, Carmen D. Álvarez-Albelo, Noemi Padrón-Fumero. The economics and implications ofmoratoriaon tourism accommodation development as a rejuvenation tool in mature tourism destinations. Journal of Sustainable Tourism. 2015; 23 (6):881-899.
Chicago/Turabian StyleRaúl Hernández-Martín; Carmen D. Álvarez-Albelo; Noemi Padrón-Fumero. 2015. "The economics and implications ofmoratoriaon tourism accommodation development as a rejuvenation tool in mature tourism destinations." Journal of Sustainable Tourism 23, no. 6: 881-899.
This paper studies the role of trading partner’ growth and a domestic import tariff in the possibility of growing through trade. To this purpose, a Ricardian model is developed in which a backward economy seeks to increase its long-run growth rate simply by trading with a faster growing partner. It is found that domestic growth may be either negatively affected or unaffected by a domestic import tariff, while it is always positively impacted by foreign growth. Furthermore, convergence in growth rate can emerge both with an import tariff and under free trade. Ours results are consistent with the empirical evidence.
Carmen D. Alvarez-Albelo; Antonio Manresa; Mónica Pigem-Vigo. Growing through trade: the role of foreign growth and domestic tariffs. 2015, 1 .
AMA StyleCarmen D. Alvarez-Albelo, Antonio Manresa, Mónica Pigem-Vigo. Growing through trade: the role of foreign growth and domestic tariffs. . 2015; ():1.
Chicago/Turabian StyleCarmen D. Alvarez-Albelo; Antonio Manresa; Mónica Pigem-Vigo. 2015. "Growing through trade: the role of foreign growth and domestic tariffs." , no. : 1.
Tourism countries tend to face congestion externalities, which lead to over-production. Transport services produced in the countries of origin and tourism services provided at the destination are highly complementary, so these economies also tend to face coordination failures between firms, which result in under-production. Moreover, the presence of foreign firms poses the question of how much profit is retained by the destination. This paper analyses the joint effects of these problems on the destination's welfare, and the policies implemented to address them. Direct selling and bundling by foreign tour operators emerge as possible market arrangements. Four main results are obtained. First, in the direct selling situation the optimal policy depends on the relative importance of the problems. Second, tour operators always lead to over-production. Third, the presence of a single tour operator is not the solution to congestion. Finally, the switch from several tour operators to a single one is welfare reducing.
Carmen D. Álvarez-Albelo; Raúl Hernández-Martín. Congestion and Coordination Problems in a Tourism Economy. Tourism Economics 2012, 18, 691 -710.
AMA StyleCarmen D. Álvarez-Albelo, Raúl Hernández-Martín. Congestion and Coordination Problems in a Tourism Economy. Tourism Economics. 2012; 18 (4):691-710.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo; Raúl Hernández-Martín. 2012. "Congestion and Coordination Problems in a Tourism Economy." Tourism Economics 18, no. 4: 691-710.
This paper shows that to import growth via terms of trade or trade volume increases does matter when determining the degree of competition in the export sector that allows an economy to fully exploit its export market power.
Carmen D. Álvarez-Albelo. Does it matter if growth is imported via terms of trade or trade volume increases? Economics Letters 2012, 114, 6 -8.
AMA StyleCarmen D. Álvarez-Albelo. Does it matter if growth is imported via terms of trade or trade volume increases? Economics Letters. 2012; 114 (1):6-8.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo. 2012. "Does it matter if growth is imported via terms of trade or trade volume increases?" Economics Letters 114, no. 1: 6-8.
Countries specialised in tourism tend to face two problems with contradictory effects: the commons and the anti-commons, which lead to tourism over- and under-production, respectively. This paper develops a two-period model to analyse the joint effects of both problems on a small and remote tourism economy. Congestion and the complementariness between foreign transport and local tourism services are key features in this type of markets. As a result, direct selling and the presence of foreign tour-operators emerge as possible market arrangements with different implications in terms of welfare and public intervention. Four main results are obtained. First, in the direct selling situation the optimal policy depends on the relative importance of the problems. Second, the existence of tour-operators always leads to tourism over-production. Third, the presence of a single tour-operator does not solve the congestion problem. Lastly, the switch from several tour-operators to a single one is welfare reducing.
Carmen D. Alvarez-Albelo; Raúl Hernández Martín. The Commons and Anti-Commons Problems in the Tourism Economy. SSRN Electronic Journal 2009, 1 .
AMA StyleCarmen D. Alvarez-Albelo, Raúl Hernández Martín. The Commons and Anti-Commons Problems in the Tourism Economy. SSRN Electronic Journal. 2009; ():1.
Chicago/Turabian StyleCarmen D. Alvarez-Albelo; Raúl Hernández Martín. 2009. "The Commons and Anti-Commons Problems in the Tourism Economy." SSRN Electronic Journal , no. : 1.
This paper shows that specialization in luxury goods accounts for the remarkable growth performance of small tourism countries during recent decades. Two two-country models are constructed for this purpose. One country is large and rich and produces traded capital goods; the other is a small poor economy that produces traded tourism services. The models differ only in the luxury good nature of tourism. In both models, the tourism economy grows sustainably because its terms of trade improve continuously. This result is related to sectoral productivity gaps. Throughout the transition, the growth differential between the countries is significantly higher when tourism is a luxury good. In this case, there is a faster increase in the tourism imports of the rich economy. As a result, the terms of trade of the poor economy improve greatly and its investment is boosted.
Carmen D. Álvarez-Albelo; Raúl Hernández-Martín. Specialization in Luxury Goods, Productivity Gaps and the Rapid Growth of Small Tourism Countries. Tourism Economics 2009, 15, 567 -589.
AMA StyleCarmen D. Álvarez-Albelo, Raúl Hernández-Martín. Specialization in Luxury Goods, Productivity Gaps and the Rapid Growth of Small Tourism Countries. Tourism Economics. 2009; 15 (3):567-589.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo; Raúl Hernández-Martín. 2009. "Specialization in Luxury Goods, Productivity Gaps and the Rapid Growth of Small Tourism Countries." Tourism Economics 15, no. 3: 567-589.
Can international trade act as the sole engine of growth for an economy? If the answer is yes, what are the mechanisms through which trade operates in transmitting permanent growth? This paper answers these questions with two simple two-country models, in which only one country enjoys sustained growth in autarky. The models differ in the assumptions on technical change, which is either labour- or capitalaugmenting. In both cases, the stagnant economy imports growth by trading. In the first model, growth is transmitted because of permanent increases in the trade volume. In the second, the stagnant economy imports sustained growth because its terms of trade permanently improve.
Carmen D. Alvarez-Albelo; Antonio Manresa; Monica Pigem. The International Trade as the Sole Engine of Growth for an Economy. SSRN Electronic Journal 2009, 1 .
AMA StyleCarmen D. Alvarez-Albelo, Antonio Manresa, Monica Pigem. The International Trade as the Sole Engine of Growth for an Economy. SSRN Electronic Journal. 2009; ():1.
Chicago/Turabian StyleCarmen D. Alvarez-Albelo; Antonio Manresa; Monica Pigem. 2009. "The International Trade as the Sole Engine of Growth for an Economy." SSRN Electronic Journal , no. : 1.
This paper shows that an economy can import sustained growth, in spite of not possessing mechanisms to absorb foreign knowledge. To do that, it develops a two-country model of exogenous growth with investment-specific technological change. In autarky, one country sustainably grows while the other economy remains stagnant. In the trade situation, the quality-adjusted terms of trade become increasingly favourable to the second economy, which results in the transmission of growth. The continuous improvement in the quality of imported capital goods relative to exported consumption goods is the reason why this occurs. Moreover, this mechanism leads to convergence in per capita income if trade involves incomplete specialisation.
Carmen D. Álvarez-Albelo; Mónica Pigem-Vigo. Quality of Imports Relative to Exports, and the Transmission of Sustained Growth through the Terms of Trade. International Economic Journal 2007, 21, 381 -398.
AMA StyleCarmen D. Álvarez-Albelo, Mónica Pigem-Vigo. Quality of Imports Relative to Exports, and the Transmission of Sustained Growth through the Terms of Trade. International Economic Journal. 2007; 21 (3):381-398.
Chicago/Turabian StyleCarmen D. Álvarez-Albelo; Mónica Pigem-Vigo. 2007. "Quality of Imports Relative to Exports, and the Transmission of Sustained Growth through the Terms of Trade." International Economic Journal 21, no. 3: 381-398.
This paper shows that tourism specialisation can help to explain the observed high growth rates of small countries. For this purpose, two models of growth and trade are constructed to represent the trade relations between two countries. One of the countries is large, rich, has an own source of sustained growth and produces a tradable capital good. The other is a small poor economy, which does not have an own engine of growth and produces tradable tourism services. The poor country exports tourism services to and imports capital goods from the rich economy. In one model tourism is a luxury good, while in the other the expenditure elasticity of tourism imports is unitary. Two main results are obtained. In the long run, the tourism country overcomes decreasing returns and permanently grows because its terms of trade continuously improve. Since the tourism sector is relatively less productive than the capital good sector, tourism services become relatively scarcer and hence more expensive than the capital good. Moreover, along the transition the growth rate of the tourism economy holds well above the one of the rich country for a long time. The growth rate differential between countries is particularly high when tourism is a luxury good. In this case, there is a faster increase in the tourism demand. As a result, investment of the small economy is boosted and its terms of trade highly improve.
Carmen D. Alvarez-Albelo; Raúl Hernández Martín. Explaining High Economic Growth in Small Tourism Countries with a Dynamic General Equilibrium Model. SSRN Electronic Journal 2007, 1 .
AMA StyleCarmen D. Alvarez-Albelo, Raúl Hernández Martín. Explaining High Economic Growth in Small Tourism Countries with a Dynamic General Equilibrium Model. SSRN Electronic Journal. 2007; ():1.
Chicago/Turabian StyleCarmen D. Alvarez-Albelo; Raúl Hernández Martín. 2007. "Explaining High Economic Growth in Small Tourism Countries with a Dynamic General Equilibrium Model." SSRN Electronic Journal , no. : 1.
This paper develops a two‐country model of endogenous growth and international trade in intermediate goods. In autarky just one of the economies enjoys sustained growth. The trade situation may be characterized by complete specialization of both countries, or by incomplete specialization of the growing economy. In either case, trade transmits perpetual growth to the stagnant economy because of the permanent improvements in its terms of trade. The existence of a non‐reproducible factor in the growing economy is crucial to ensure propagation of growth. Moreover, under incomplete specialization countries converge in per capita income. This result relies on two assumptions. First, there must be a large enough share of world income to pay for the input in which the stagnant economy has comparative advantage. Second, all technologies producing intermediate goods should be equally intensive in the non‐reproducible factor.
Carmen Dolores Álvarez-Albelo; Fernando Perera-Tallo. The Transmission of Sustained Growth through the Terms of Trade in an Endogenous Growth Model. Review of Development Economics 2007, 12, 386 -396.
AMA StyleCarmen Dolores Álvarez-Albelo, Fernando Perera-Tallo. The Transmission of Sustained Growth through the Terms of Trade in an Endogenous Growth Model. Review of Development Economics. 2007; 12 (2):386-396.
Chicago/Turabian StyleCarmen Dolores Álvarez-Albelo; Fernando Perera-Tallo. 2007. "The Transmission of Sustained Growth through the Terms of Trade in an Endogenous Growth Model." Review of Development Economics 12, no. 2: 386-396.
This paper explores the role of endogenous versus exogenous efficiency units of labour for the quantitative evaluation of the impact of pay-as-you-go Social Security on labour supply. Pension response to a population growth rate change is also studied. Two dynamic general equilibrium models are used: one with human capital accumulation through learning-by-doing, and a second with exogenous efficiency units of labour. The main differences in the results are the following: (a) the shift in the working time-age profile induced by the elimination of Social Security considerably differs in both models. The increase in average hours worked is 4% higher under human capital accumulation than in the alternative model; and (b) the pension falls by a similar percentage in both models when the population growth rate is set to zero. This occurs because the capital–labour ratio changes less under learning-by-doing than with exogenous efficiency units of labour.
Carmen D. Alvarez-Albelo. Endogenous versus exogenous efficiency units of labour for the quantitative study of social security: two examples. Applied Economics Letters 2004, 11, 693 -697.
AMA StyleCarmen D. Alvarez-Albelo. Endogenous versus exogenous efficiency units of labour for the quantitative study of social security: two examples. Applied Economics Letters. 2004; 11 (11):693-697.
Chicago/Turabian StyleCarmen D. Alvarez-Albelo. 2004. "Endogenous versus exogenous efficiency units of labour for the quantitative study of social security: two examples." Applied Economics Letters 11, no. 11: 693-697.
Carmen D. Alvarez Albelo. Complementarity between physical and human capital, and speed of convergence. Economics Letters 1999, 64, 357 -361.
AMA StyleCarmen D. Alvarez Albelo. Complementarity between physical and human capital, and speed of convergence. Economics Letters. 1999; 64 (3):357-361.
Chicago/Turabian StyleCarmen D. Alvarez Albelo. 1999. "Complementarity between physical and human capital, and speed of convergence." Economics Letters 64, no. 3: 357-361.