Paper Title :Innovations in The Tourism Sector and The Assumptions of New Institutional Economics

Author :Barbara Marciszewska

Article Citation :Barbara Marciszewska , (2020 ) " Innovations in The Tourism Sector and The Assumptions of New Institutional Economics " , International Journal of Management and Applied Science (IJMAS) , pp. 74-78, Volume-6,Issue-4

Abstract : New institutional economics (NIE) focuses on the mechanism of institutions that allows a more thorough study of contemporary economic and social processes than those proposed by classics and neoclassics. Particularly noteworthy is the fact that the new perspective of this research allows discerning non-market phenomena and processes that accompany economic mechanisms. The diversification of activities of subjects of the tourism sector on domestic and international markets largely concerns tangible and intangible public goods, but they are not compatible in nature. Hidden goals of private tour operators – often short-term and particularistic – frequently force public institutions involved in organisation of tourism services to correct their activities. The aim of this article is to show a relationship between the functioning of subjects of the tourism market and the assumptions of new institutional economics in social terms. The research presented in this paper was based on critical analysis of literature and participant observation in the tourism sector. The article attempts to show a need to identify relationships between the theoretical framework of new institutional economics and the phenomena and processes taking place in tourism. Keywords: New Institutional Economics, Social Aspects of Tourism, Feedback in Tourism

Type : Research paper

Published : Volume-6,Issue-4

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