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.

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Recent attention has been dedicated to the relationship between tourism and subjective well-being, however studies have mainly focused on the tourist side. Since residents are an indispensable partner for the success of any tourism program, understanding whether and how tourism affects residents' perceived life-satisfaction is a crucial issue. However, scant attention has been paid to this theme and the majority of studies are cross-sectional. Here we develop a two-step survey, conducted in a seaside resort before and during the tourist season to test for significant differences in residents' perceptions of tourism impact and overall life satisfaction. The results confirm the hypothesis that perceived tourism impact and life satisfaction vary with the tourist season, and that tourism has a hidden cost in terms of perceived life satisfaction

The EKC hypothesis postulates that the relationship between economic growth and environmental deterioration is represented by an inverted U-shaped function. Its validity has been questioned from several perspectives and a need for public policies has been expressed. This paper uses a heuristic approach to analyze the relationship between per capita income and land consumption, as proxied by the number of Building Permits issued by public authorities. Using data from the Italian regions, we run a panel data regression model to test whether the EKC hypothesis holds. Results confute it, evidencing a U-shaped relationship. In the authors’ opinion, the combined effect of market conditions, lifestyle evolution and institutional and political factors have produced an adverse effect on environment. On this basis, the paper claims that, when social and intergenerational aspects are involved, a balanced mix of market, policies and institutional architecture is needed

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