Phishing holidays: The market for timeshares
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Abstract
A recent book by Nobel laureates Akerlof and Shiller, Phishing for Phools, has drawn attention to the ‘dark side’ of the nudge. This article presents the timeshare market as an exemplar; a number of features of this market make it uniquely suitable for this purpose. I highlight the manner in which developers leverage consumer biases and cognitive limitations to secure sales. I then draw comparisons with the timeshare resale market to estimate the loss to consumers. I finish with some possible recommendations for reform.
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Tourism Economics
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24
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6
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David J Butler, Phishing holidays: The market for timeshares, Tourism Economics, 2018, Vol. 24(6) 690–700. Copyright 2018 The Authors. Reprinted by permission of SAGE Publications.
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Tourism economics
Behavioural economics
Tourism marketing
Tourism
Applied economics