Phishing holidays: The market for timeshares

Phishing holidays: The market for timeshares

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 d...

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Veröffentlicht in:Tourism economics : the business and finance of tourism and recreation 2018-09, Vol.24 (6), p.690-700
1. Verfasser: Butler, David J
Format: Artikel
Sprache:eng
Schlagworte:
Cognitive ability
Cognitive bias
Consumer behavior
Consumers
Holidays & special occasions
Leverage
Markets
Phishing
Resale
Sales
Time to market
Vacations
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container_title Tourism economics : the business and finance of tourism and recreation
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creator Butler, David J
description 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.
doi_str_mv 10.1177/1354816618774484
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subjects Cognitive ability
Cognitive bias
Consumer behavior
Consumers
Holidays & special occasions
Leverage
Markets
Phishing
Resale
Sales
Time to market
Vacations
title Phishing holidays: The market for timeshares
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