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
In everyday life, people often make decisions on behalf of others. The current study investigates whether risk preferences of decision-makers differ when the reference point is no longer their own money but somebody else money. Thirty four healthy participants performed three different monetary risky choices tasks by making decisions for oneself and for another unknown person. Results showed that loss aversion bias was significantly reduced when participants were choosing on behalf of another person compared to when choosing for themselves. The influence of emotions like regret on decision-making may explain these results. We discuss the importance of the sense of responsibility embodied in the emotion of regret in modulating economic decisions for self but not for others. Moreover, our findings are consistent with the Risk-as-feelings hypothesis, suggesting that self-other asymmetrical behavior is due to the extent the decision-maker is affected by the real and emotional consequences of his/her decision.
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