The Impact of Information Availability on Destination Choice

André de Palma () and François Combes ()
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François Combes: Cerema Direction Ouest - Centre d'Etudes et d'Expertise sur les Risques, l'Environnement, la Mobilité et l'Aménagement - Direction Ouest - Cerema - Centre d'Etudes et d'Expertise sur les Risques, l'Environnement, la Mobilité et l'Aménagement

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Consider a population of agents who choose one among a set of destinations located along a rectilinear road. Each of these destinations has a certain utility, modeled by a random variable. We compare a situation where the agents have to explore the destinations to observe the value of their utilities, to a situation where they know these values beforehand. We show that more information yields a higher welfare to the agents, and also, perhaps counter-intuitively, higher distance traveled.

Keywords: information; destination choice (search for similar items in EconPapers)
Date: 2016
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Published in Journal of Economics and Management Strategy, 2016, pp.Early View. ⟨10.1111/jems.12152⟩

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Related works:
Journal Article: The Impact of Information Availability on Destination Choice (2016)
Working Paper: The Impact of Information Availability on Destination Choice (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:hal-01311122

DOI: 10.1111/jems.12152

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