Abstract
This paper combines game theory with Land Ethics to demonstrate a path forward for sustainable development. Our findings indicate that two likely equilibria can be reached. One equilibrium focuses on high short-term profits, but with ecological damage leading to less cumulative profits. The second equilibrium requires ecological maintenance costs (thus less short-term profits) yet yields greater cumulative profits. The comparison of the two equilibria and using the historical perspective of the Wisconsin Dells demonstrates how communities that embrace a Land Ethic can reach the equilibrium that produces greater long-term benefits.
Highlights
According to the analysis of the interest demands of each stakeholder involved in sustainable tourism development, it appears that the game equilibrium should be reflected in the proportion of participants who choose the same strategy for improvement
This paper finds that sustainable tourism development can make economic sense, the allure of greater short-term profits is ever-present
Sustainability for tourism development has been addressed in the literature but no prior study has clearly illustrated this important issue using a straightforward game theory model
Summary
The main stakeholders analyzed in this model are tourism companies, local residents (community), tourists, and government policy makers. This perspective has the local residents (community) as a main stakeholder, which Font and Lynes [23] had found lacking in previous studies. According to the analysis of the interest demands of each stakeholder involved in sustainable tourism development, it appears that the game equilibrium should be reflected in the proportion of participants who choose the same strategy for improvement. The game equilibrium among stakeholders of sustainable tourism development depends on the maximization of the overall profits under the requirements of ecotourism as well as a reasonable allocation mechanism
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