Theoretical research on the impacts of tourism has a discernible bias towards residents' perceptions. To understand the evolution and dynamics of tourism, residents' perceptions have to be analysed as part of an exchange process involving both residents and tourists. A conceptual framework of hostguest relations is required. This paper presents an economic model that builds on evidence that tourism involves the meeting of two populations. Their interactions and experiences influence their attitudes and opinions. This causes structural changes in individual preferences that affect residents' perceptions of tourism and tourists' willingness to pay. To interpret this process we use the Edgeworth Box, representing the "exchange" in terms of "resource-space" against income.

The term revolution is normally used to indicate a sharp change in the direction of evolution of a given phenomenon, a catastrophe, in the jargon of modern dynamic theory. In this sense we often talk of the Newtonian revolution in physics or of a Neoclassical revolution in economics.

Tourism implies the encounter and interaction of two non-homogeneous populations, possibly further internally structured into like-minded communities. Its sustainability, although still poorly defined, depends upon the type of such interaction and its evolution. This is why we believe that the theoretical representation of the problem has to occur within a game theory framework. This paper begins to investigate this uncharted, perhaps novel, idea. Moreover, building on existing literature, it discusses the impact of such an approach on one of the key concept that has been developed to assess the local impact of tourism, i.e. Tourism Carrying Capacity

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