Cognitive Inconsistency in Travel Risk Perception: A Behavioral Economics Perspective

Abstract

This study explores travel risk perception through the lens of behavioral economics, focusing on the concept of cognitive inconsistency, wherein individuals concurrently hold varying perceptions based on their distinct social identities (e.g., as either residents or tourists). Using data from a multi-wave national survey, we identify significant intra-personal inconsistencies in travel risk perception, driven by past travel experience and immediate plans, which independently shape tourists’ social identity and increase inconsistency in their travel risk perceptions. This inconsistency in perception significantly influences travel-related decisions, with individuals more likely to modify their travel plans to alleviate the discomfort arising from conflicting risk assessments. This study underscores the pivotal role of behavioral economics in advancing understanding in the tourism literature, highlighting its advantages in capturing the nuanced dynamics of perception.

Keywords

behavioral economics travel risk perception cognitive inconsistency social categorization

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