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List of contents
MODULE 1 The market 1. Economic approach to tourism and hospitality 2. Demand, supply, and the market 3. Uber’s surge pricing and market efficiency MODULE 2 Demand 4. Consumer choice and demand 5. Elasticity of consumer demand 6. Network effects in market demand 7. Demand for Pinot Noir versus Merlot: The Sideways effect MODULE 3 Supply 8. Firm production and cost 9. Competition and market structure 10. Market concentration and market power 11. Airbnb versus hotels in supply adjustment MODULE 4 Firm behavior and strategy 12. Monopoly and price discrimination 13. Starbucks pricing: Tall, Grande, and Venti 14. Duopoly and product differentiation 15. McDonald’s versus Burger King in product differentiation MODULE 5 Transaction and Institution 16. Intermediation and the bid-ask spread 17. The two-sided market and price structure 18. The platformization of OpenTable
About the author
Yong Chen, Ph.D., is an Associate Professor at Ecole hoteliere de Lausanne (EHL), Switzerland, where he lectures on economics of tourism and hospitality. Prior to joining EHL in 2014, he was a Postdoctoral Fellow in the School of Hotel and Tourism Management at The Hong Kong Polytechnic University, where he also obtained his Ph.D. in 2012. Dr. Chen’s research interests include tourist behavior, tourism demand, the sharing economy, and Chinese outbound tourism. Dr. Chen’s research has been published in a diverse range of reputable journals and his opinions have also appeared in CNN, CGTN, South China Morning Post, Sixth Tone, and EHL Hospitality Insights.
Summary
This book offers students an accessible and applied introduction to microeconomics in tourism and hospitality through a comprehensive analysis of the market mechanism, demand and supply, firm behavior and strategy, and transaction and institution.
