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Cooperative optimization of tourism networks. An application of a game theory model

Handbook of Research on Holistic Optimization Techniques in the Hospitality, Tourism and Travel Industry9781522510543

Pandian Vasant, University Technology Petronas, Malaysia
Kalaivanthan M., Shangri-La’s Rasa Sayang Resort & Spa, Malaysia
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Our contribution

Cooperative optimization of tourism networks. An application of a game theory model

  • Vincenzo Asero, Department of Political and Social Sciences, University of Catania
  • Sebastiano Patti, Department of Economics and Business, University of Catania/ Le Mude ltd, London
  • Stefania Skonieczny, Le Mude Ltd, London

 

Abstract

A tourism network is determined by close collaboration among various stakeholders working interactively on common problems or issues through formal and informal approaches. As many cases highlight, informal relationships contribute to the formation of formal partnerships. In this study a game theoretical model is applied to explain the decisional process of entrepreneurs about forming partnerships in formal tourism networks. The model shows that, in terms of Nash equilibrium, the cooperative optimization of a tourism network should be achieved when entrepreneurs have the same business goals and a common tourism vision. The chapter presents an empirical solution that arises from the case of Business Networks in Italy, which represents an innovation in Italian Law.

 

Description

The application of holistic optimization methods in the tourism, travel, and hospitality industry has improved customer service and business strategies within the field. By utilizing new technologies and optimization techniques, it is becoming easier to troubleshoot problematic areas within the travel industry.

The Handbook of Research on Holistic Optimization Techniques in the Hospitality, Tourism, and Travel Industry features innovative technologies being utilized in the management of hotels and tourist attractions. Highlighting empirical research on the optimization of the travel and hospitality industry through the use of algorithms and information technology, this book is a critical reference source for managers, decision makers, executives, tourists, agents, researchers, economists, and hotel staff members.