English, Article, Journal or magazine article edition: Second Homes vs. Hotels: a Suggestion for a Self-enforcing Policy Guido Candela; Massimiliano Castellani; Maurizio Mussoni

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Bookmark: http://trove.nla.gov.au/version/145291
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Second Homes vs. Hotels: a Suggestion for a Self-enforcing Policy
Author
  • Guido Candela
  • Massimiliano Castellani
  • Maurizio Mussoni
Physical Description
  • preprint
Notes
  • We set up a theoretical model, in which the policy maker of a tourism destination has to choose how to allocate the limited natural resource landbetween private holiday accommodations (i.e. second homes) or hotels. In a framework of partial equilibrium, the policy maker minimizes a loss function which measures the loss of political consensus and is de ned by a linear combination of the policy maker and the local community preferences. We can obtain both a corner solution, in which we have extreme choices of only holiday houses or only hotels, and an internal solution, in which we have a linear combination of them. To do that the policy maker can use as economic policy instruments either standard policies (indirect control - a Pigou tax - or direct control - regulation) or non-standard policies (a reinvestment commitment of the …rm in the tourism destination). The final policy maker decision was made by assessing the welfare consequences of the policy implications.
  • RePEc:rim:rimwps:50-07
Language
  • English
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