The influence of tourists' monetary and temporal sunk costs on destination trust and visit intention
Publication Date
4-1-2022
Document Type
Article
Publication Title
Tourism Management Perspectives
Volume
42
DOI
10.1016/j.tmp.2022.100968
Abstract
Although the phenomenon of sunk costs is common in tourism situations, tourism research has largely ignored its effect on tourists. Drawing on prospect theory, cognitive dissonance theory, and signal theory, this study proposed that monetary sunk cost and temporal sunk cost both have significant impact on potential tourists' visit intention. Four scenario-based experiments were performed to test hypothesized relationships. Findings revealed that monetary sunk cost has a negative effect on visit intention, while temporal sunk cost has a positive effect. Good destination reputation attenuates the effects, and destination trust mediates the relationship between sunk cost and visit intention. These studies extend existing theoretical applications by identifying the conditions under which sunk cost can influence tourists' visit intention, and provides relevant practical suggestions for tourism product suppliers and local government departments.
Funding Number
19ZWB17
Funding Sponsor
National Natural Science Foundation of China
Keywords
Destination reputation, Destination trust, Intention to visit, Monetary sunk costs, Temporal sunk costs
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Department
Hospitality, Tourism, and Event Management
Recommended Citation
Lujun Su, Huixuan Chen, and Yinghua Huang. "The influence of tourists' monetary and temporal sunk costs on destination trust and visit intention" Tourism Management Perspectives (2022). https://doi.org/10.1016/j.tmp.2022.100968
