From Asymmetry to Satisfaction: The Dynamic Role of Perceived Value and Trust to Boost Customer Satisfaction in the Tourism Industry

Abstract

The study investigates how information asymmetry affects customer satisfaction in the tourism industry by examining trust and perceived value as mediating factors. The research implements an integrated model to test and prove information asymmetry’s direct and mediating effects on customer satisfaction by examining the literature gap. The research used a quantitative approach based on opinion polls distributed to 408 customers of hotels, tourism companies, and travel agencies who were in Egypt. SmartPLS 3 software implemented the data analysis process using partial least squares structural equation modeling (PLS-SEM). Previous studies have developed scales to measure information asymmetry and its related constructs, including customer trust, perceived value, and customer satisfaction. Multiple tests showed that the measurement tools possess both reliability and validity. Results strongly support all hypotheses: information asymmetry demonstrated significant direct negative effects on customer satisfaction (β = −0.187), trust (β = −0.520), and perceived value (β = −0.453). Conversely, customer satisfaction received significant positive direct effects from both trust (β = 0.273) and perceived value (β = 0.263). Importantly, trust (indirect effect β = −0.142) and perceived value (indirect effect β = −0.119) acted as powerful mediators, confirming that information asymmetry diminishes satisfaction largely by eroding these crucial factors. Crucially, the results demonstrate that the negative impact of information asymmetry on customer satisfaction is significantly mediated jointly through two parallel pathways: the erosion of customer trust and the impairment of perceived value. The research adds theoretical support to information asymmetry theory with its findings while also extending trust theory, perceived value theory, and expectancy disconfirmation theory in the field of e-commerce. E-commerce entities must establish clear communication to gain customer trust and create perceived value that helps compensate for information asymmetry to create enhanced customer loyalty and superior market position.

1. Introduction

Indeed, in today’s fast-growing and highly connected consumer market, competitive advantages, as well as a firm’s success, especially within e-commerce environments, largely depend on the development of customer relationship satisfaction, trust, and perceived value (H.-W. Kim et al., 2012). However, the main challenge likely to hinder this is information asymmetry, which is a situation where one party to a transaction has more or better information than the other (Akerlof, 1978). Such an information transfer disparity can significantly affect consumers’ perceptions and may consequently determine levels of satisfaction with an online store (Elshaer et al., 2024b). H.-W. Kim et al. (2004) stated that information asymmetry has worsened due to the development of e-commerce options. This situation differs greatly from offline stores, where clients can physically examine products. Online, the information provided by the vendor is often the consumer’s only guidance (Fathy et al., 2024b). This intrinsic characteristic of contracts for selling goods evidently may lead to uncertainty and risk because the seller cannot directly assess the physical quality of the commodity (Elshaer et al., 2024a). Although there are myriad ways in which consumers are beginning to self-organize, such as through reviews and online comparison sites, this information asymmetry remains a key issue to this day (Gupta & Kim, 2010). Thus, obtained perceived value—this seems to embrace the general concept of transaction, including the scale where customers evaluate benefits and costs—and trust are acknowledged to be the key antecedents of the level of satisfaction among buyers (Pavlou et al., 2007). For long term customer relationships, trust and perceived value are considered essentials in e-commerce success (Hoffman et al., 1999). These factors are especially sensitive to information asymmetry, making investigating their collective impact useful in enhancing consumer experience. Previous studies have considered other variables, such as customer-perceived satisfaction, customer-perceived value, and customer-perceived trust in an e-commerce environment (Zeithaml, 1988). Indeed, some empirical research also stresses the role of trust and value as factors that can help to facilitate appropriate consumer behavior (McKnight et al., 2002; Sirdeshmukh et al., 2002).

Information asymmetry presents an exceptional challenge to tourism e-commerce because of the intrinsic characteristics of tourism services. Tourism services such as hotel stays and flights with tours and tourist attractions have an intangible experiential nature that makes them heterogeneous (Zeithaml, 1988). Before buying and using these services, consumers experience limitations because they cannot perform physical examinations or touch evaluations (X. Ye et al., 2023). Each consumer’s experience value assessment is individually subjective, so it makes pre-purchase objective evaluation challenging. Each service delivery carries built-in variation, which results in differential room quality and guide efficiency, as well as unforeseen travel events that create uncertainty between the advertised details and actual experience (H.-C. Lin et al., 2023). The fundamental unreliability of experiences requires service providers to provide extensive online surrogate information, leading to substantial knowledge gaps between providers and consumers.

Online booking platforms create information asymmetry, which consumers experience as a practical consequence of using these platforms. The hotel booking platform shows professionally staged photos that create false perceptions about the room’s true size, condition, and view. Crucial information such as ongoing construction activities and unavailable amenities or mandatory fees that exceed the initial price often hides in fine print during the late stages of the booking process (S. Ye et al., 2023). Tourists who experience negative disconfirmation because of incomplete or selective booking information developed during selection tend to show disappointing reactions and dissatisfaction (Peña-García et al., 2024).

The practice of using user-generated reviews to minimize asymmetry can, in fact, create contradictory asymmetry issues. Most travelers heavily rely on TripAdvisor and Google reviews and reviews incorporated into OTA websites when selecting their travel options (Souki et al., 2024). The trustworthiness of online reviews faces doubts because providers sometimes write fake positive reviews while unconfirmed negative reviews exist alongside reviews that lack essential background information. Tourists base their choices on exaggerated positive online recommendations, which turn out to be deceptive, leading them to encounter inferior service delivery with abandoned commitments and risky situations. The problem of trusting inaccurate peer feedback creates deep dissatisfaction because the system of peer review contains natural information asymmetry (Handoyo, 2024). Online tourism experiences show how information asymmetry creates specific negative consequences that customers must face.

Information asymmetry theory illustrates the informational challenges inherent in tourism e-commerce, but its application alone fails to provide a complete picture of consumer satisfaction assessments. The uncertainty and risk resulting from information asymmetry drive consumer responses related to product quality assessments and comparisons of outcomes with expectations. The path consumers follow, from perceiving information asymmetry to experiencing satisfaction or dissatisfaction, requires theoretical analyses that explain each psychological dimension separately. Several key theories combine to provide a comprehensive understanding due to their combined explanatory power.

Because of their combined explanatory power, several essential theories merge to provide a comprehensive understanding. Trust theory (Morgan & Hunt, 1994) is an essential framework. It posits that trust is a key risk management tool from information asymmetry. Trust helps build consumer perceptions of seller reliability and honesty (Ashiq & Hussain, 2024). The assessment of benefits versus costs in conservation situations becomes problematic under information asymmetry according to perceived value theory (Zeithaml, 1988), since it hampers consumers’ cognitive evaluation in their purchase decisions and satisfaction (Karahan, 2024). According to expectancy disconfirmation theory (EDT) (Oliver, 1980), the overall understanding of satisfaction hinges on the relationship between information asymmetry and inaccurate projections of service quality, which trigger substantial changes in customer satisfaction (Oliver, 1980). This study combines information asymmetry theory with trust theory and perceived value theory and EDT principles to establish an enhanced research model that explains how informational challenges match relational elements and cognitive evaluations to produce evaluative results that influence online tourism customer satisfaction.

The most extensive overall gap is the lack of quantitative literature that analyzes both information asymmetry, trust, and perceived value and its effects on customer satisfaction in an e-commerce context. First, in previous studies, these variables have been analyzed separately; however, little research has focused on exploring their interaction in cases of information asymmetry, which is a reality of online markets. Second, past studies accept the importance of customer satisfaction, trust, and perceived value in e-commerce (Pavlou et al., 2007; Zeithaml, 1988). However, the literature still lacks an adequate explanation of its antecedent based on information asymmetry, whereby one party holds superior knowledge as compared to the other (Akerlof, 1978). Third, although a plethora of sources analyze the impact of trust, value, and asymmetry separately (Gupta & Kim, 2010; McKnight et al., 2002), their interdependence within the realm of customer satisfaction in situations where there is an information disparity is relatively limited. Fourth, in the prior studies, the role of trust and value with regard to customer satisfaction has been established earlier (McKnight et al., 2002; Sirdeshmukh et al., 2002); however, the mediation of these variables with respect to the relationship between information asymmetry and customer satisfaction has not yet been determined. Fifth, perceived value creates a positive influence on customer satisfaction according to (Lalicic & Weismayer, 2021; Matsuoka, 2022; Otto et al., 2020; X. Ye et al., 2023; Yum & Kim, 2024) establishing this as Hypothesis 5. However, customers facing information asymmetry often find it hard to correctly evaluate perceived value because they lack the necessary information, according to Hypothesis 4. Investigating the direct relationship between perceived value and customer satisfaction (Hypothesis 5) becomes vital in situations when information asymmetry jeopardizes customers’ ability to form accurate perceptions of value, which in turn affects their satisfaction (as analyzed through Hypothesis 8). Sixth, a significant research gap exists. Specifically, how information asymmetry affects customer satisfaction through the mediating role of trust remains largely untested and theoretically underdeveloped. This avenue requires empirical confirmation. Finally, the research literature lacks evidence regarding perceived value’s role as a mediator that connects information asymmetry to customer satisfaction outcomes. Research confirms perceived value impacts satisfaction (Matsuoka, 2022; Otto et al., 2020), yet it fails to investigate the indirect causal relationship starting from information asymmetry, which affects perceived value and thus satisfaction. The investigation of this mediation [concerning Hypothesis 8] provides essential practical insights because it reveals how managing customer perceptions of value can combat satisfaction reduction caused by information asymmetry in tourism e-commerce markets. The research field requires immediate exploration of this opportunity.

This research agenda therefore aims to comprehensively explore the interaction between information asymmetry, trust, perceived value, and customer satisfaction. This research will enhance theoretical understanding and develop a guide to improve the strategy-making process for online retailers in an information asymmetry environment for building trustworthy and satisfying e-commerce environments. Specifically, the objectives of this research are (1) to examine the direct impact of information asymmetry on trust, perceived value, and customer satisfaction, to determine if the state of information asymmetry causes these important outcomes. (2) To examine the direct impact of trust and perceived value on customer satisfaction for establishing the effect of these two constructs on customer relationships. (3) To examine the mediating role of trust and perceived value on the direct relationships between information asymmetry and customer satisfaction. This objective wants the investigator to determine if information asymmetry affects the perception of a good deal and, consequently, the satisfaction index of the customers. (4) Provide practical implications to the industry to be able to make strategic decisions. By achieving these objectives, this study aims to fill the identified gap by developing an integrated model that examines the dynamic interlinkage between information asymmetry, trust, perceived value, and customer satisfaction in the context of e-commerce. This will provide the research with a more comprehensive and complex view on the effects of the information insufficiency in the online market environment.

This paper will offer more than an understanding of information asymmetry as an antecedent variable to important consequences in e-commerce. The present research has expected that analyzing information asymmetry impacts trust and perceived value, which later affects customer satisfaction. The adverse impact of information unleveling shall be measured against trust and perceived value, which later affects customer satisfaction. The study’s objectives are to investigate a set of propositions that synthesize various theoretical streams, including information economics, psychology, and marketing, by comparing the performance of a single model for customer behavior under conditions of information asymmetry. In detail, the research will examine the mediation role of trust and perceived value on information asymmetry and customer satisfaction relationships, which will advance the current theoretical framework of e-commerce customer behavior. By empirically testing the mediating role of trust and perceived value, this research will validate a previously untested chain of effects: that perceived information asymmetry directly influences customer satisfaction while exerting an indirect influence through perceived trust and perceived value. This will help continue the theoretical development of the process by which the impacts of information imbalance are transmitted.

The current study presents strong managerial implications for e-commerce retailers, calling upon them to find ways of reducing the problem of information asymmetry and thereby improving customers’ trust and perceived value. Identifying trust drivers creates a basis of practical steps that a firm can take to establish and maintain a trustworthy, long-term relationship with the customer, aiming to deliver high customer satisfaction. This paper establishes the trust process to mitigate the negative impacts of information asymmetry on customer satisfaction and calls for retailers to develop trusting strategies to create credible brands. Also, it increases the importance of accurately representing the products to enhance the perceived value and customer satisfaction. This study can help the regulatory bodies appreciate the need for policies that reduce the information asymmetry to enhance the fairness of e-commerce. It also seeks to assist the consumer in gaining an insight into the harms of information asymmetry to make the right choices. Altogether, these studies lead to building a more transparent, trustworthy, and fair e-commerce environment.

Fundamental information asymmetry theory research launched by Akerlof (1978) originally studied market level effects such as adverse selection and market failure, but modern studies emphasize personal consumer-level impact, especially in digital service platforms. Most traditional methods explore how information asymmetry creates direct negative relationships with economic outcomes and behavioral elements. This research exceeds basic identification of the direct link by examining the psychological reasons information asymmetry affects consumer satisfaction ratings in online transactions.

The current study stands out because it integrates customer trust and perceived value as essential mediating elements within information asymmetry theory. This research presents trust and perceived value as essential interpretive tools that shape how consumers deal with information asymmetry. It also examines how these variables enable customers to process this type of asymmetry. The research extends conventional information asymmetry theory analysis through investigation of how these significant constructs (Ashiq & Hussain, 2024) transform information asymmetry effects into customer satisfaction under the specific high information asymmetry conditions of tourism e-commerce. The research seeks to clarify how these elements connect to explain consumer purchase behavior within online tourism service transactions that involve substantial information uncertainty.

2. Literature Review

2.1. Theoretical Lens

Multiple theoretical frameworks explain how information asymmetry influences trust and perceived value, leading to customer satisfaction within the hospitality and tourism industry. Information asymmetry theory (Gu & Guo, 2023) serves as a key theoretical foundation showing how having more information than other parties allows consumers to mis-select a product and consider it unethical. For the hospitality industry, distrust and dissatisfaction occur when service providers hold superior information about product quality and reliability compared to their customers (Souki et al., 2024). Such information disparities between suppliers and customers negatively affect trust levels and perceived value, impacting customer satisfaction.

Information asymmetry theory (IAT) (Akerlof, 1978) functions as the fundamental theoretical basis throughout this study even though multiple relevant perspectives contribute to building an extensive model. Information asymmetry theory represents the foundation because it establishes the main investigation focus point as the built-in information disparities across tourism e-commerce that affect market functionality and consumer evaluation processes. The core informational problem leads our framework to investigate its particular effects.

Information asymmetry theory is a fundamental principle that has been applied in numerous studies in the field of tourism and hospitality. In studying the behavior of small and medium-sized enterprises (SMEs), decision-making difficulties arise due to information asymmetries. These companies’ lack of access to financial information, business regulations, and court system information creates barriers for them to make new products (M. S. Lin et al., 2023). Managers of these firms face investment concerns due to their lack of key insights from the market and government agencies (Fu et al., 2019). Researchers have expanded their focus beyond financial information asymmetries, including business regulations, the tax system, and the court system, to understand their impact on innovation (Eze et al., 2019). Through qualitative studies, SME managers demonstrate how information asymmetries related to financial regulations, business regulations, and the court system affect their innovations in products and services. Governments can help reduce information asymmetries by providing access to information along with legal support (Mishra & Prasad, 2004).

Information asymmetry theory provides explanations for understanding international tourism flows between locations (Shao et al., 2024). Cultural, geographic, and economic differences between countries lead to information asymmetries (Dinner et al., 2019). Potential travelers remain uncertain about the quality of a destination because they cannot evaluate experiences in advance (Dow & Karunaratna, 2006). Research suggests that increasing distance reduces the likelihood of travel (Jani et al., 2014).

In the field of tourism promotion, information asymmetry between tourist destinations and consumers represents a gap (L. Lin et al., 2023). Electronic media are effective in bridging this information gap, enabling consumers to gather information that informs their purchasing decisions (Gavilan et al., 2018). L. Lin et al. (2023) examines the contribution of visual aspects, such as color saturation in travel images, to attracting and arousing consumers’ attention, particularly when considering information deficit scenarios. The research shows that for non-local tourist attractions, color contributes to the choice of natural destinations but reduces the choice of cultural attractions. This is related to information asymmetry, where consumers tend to rely on visual information when they are less familiar with a distant destination.

Information asymmetry theory explains how existing hotels influence new hotel entry methods. New hotels choose market entry methods that minimize risk, according to Woo et al. (2023). For example, in markets with high-quality hotels, new hotels may choose joint management methods (such as franchise agreements) rather than full management methods to gain local market information and reduce information asymmetry (Canina et al., 2005). Hotels entering a market with lower-quality hotels may choose full control methods because they possess more information and desire high-quality management.

The trust theory developed by Morgan and Hunt (1994) is applicable to this research because trust acts as a key factor to mitigate the negative impact of information asymmetry. Based on customers’ perception of the service provider’s honesty and reliability, trust develops, which reduces transaction uncertainty. Customer satisfaction exists as a result of information asymmetry and trust because consumer trust suffers from transparency issues but builds constructive service experiences when trust levels are high (S.-B. Kim & Kim, 2017). Trust theory is applied in various forms in tourism and hospitality research, examining relationships between stakeholders. Studies examine employee trust in management. Studies have investigated the impact of commitment-based versus compliance-based practices and ethical leadership on trust and the formation of green behavioral intentions (M. Ali & Hassan, 2023). The study also addresses inter-firm relationships, examining how trust becomes a key resource among small businesses in rural tourism (Pagliara et al., 2021). Furthermore, trust is examined from the perspective of residents, assessing how trust in government institutions influences support for certain forms of tourism (Nunkoo & Gursoy, 2019).

According to the perceived value theory developed by Zeithaml (1988), consumers judge the value of a service by comparing perceived benefits with perceived expenses. The presence of information asymmetry creates difficulties for customers in evaluating the value of a service, which ultimately reduces their satisfaction (Kumar & Reinartz, 2016). Local visitors to cultural and coastal sites perceive the value based on their evaluation of the emotional and social elements they obtain from their experiences. A study conducted in Huanchaco, Peru, found that emotional and social value are associated with tourist satisfaction and loyalty, according to Regalado-Pezúa et al. (2023). Studies have examined local tourism involving cultural heritage and traditional practices from a perceived value perspective. Previous studies have identified five meaningful value perceptions for this context: functional, emotional, social, cognitive, and self-actualization (H. Zhang et al., 2023). This established framework helps researchers examine how tourists value local traditions and cultural heritage.

Another theory is expectancy disconfirmation theory (EDT), which explains the mechanism by which customer satisfaction arises from initial expectations and judgments of service performance (Oliver, 1980). Customer satisfaction declines when customers have high expectations of service but experience unfavorable outcomes resulting from information asymmetry (Z. Huang & Benyoucef, 2013). The combination of high levels of trust and perceived value reduces the impact of information asymmetry on service evaluation.

Expectancy disconfirmation theory (EDT) has proven its importance in tourism and hospitality studies, generating essential data on customer behavior and satisfaction. Numerous studies indicate that poor service produces negative disconfirmation, which generates negative emotions that, in turn, lead to negative customer reactions toward service providers (Hien et al., 2024; Naeem et al., 2024). Disconfirmation is vital to customer satisfaction, as satisfied customers become loyal to service providers. The strength of the relationship between variation in perceived expectations and satisfaction depends on cultural values, according to research by Wu and Kim (2024), who emphasize the need for cultural value for tourists. Research has demonstrated that cultural and individual differences determine how disconfirmation and satisfaction are expressed (Wu & Kim, 2024). Research shows that perceptions of high-quality services enhance visitor satisfaction and improve their quality of life (Weng et al., 2023). Expectation confirmation is key in determining customer behavior toward sharing online experiences, as various elements motivate positive or negative word-of-mouth (Nam et al., 2020).

The research revealed that complaint behavior mediates dissatisfaction and revisit intentions, which explains post-service behavior (Naeem et al., 2024). According to Au and Tse (2019), the theory offers useful and clear applications through managerial insights into disconfirmation mechanisms, with the aim of building better satisfaction and loyalty strategies in hospitality management.

The study unifies different theoretical models to create a single framework on how information asymmetry affects satisfaction levels through trust and perceived value as key mediators. The research findings help academics build better theoretical models that describe how customers make decisions across the hospitality and tourism industry.

2.2. The Information Asymmetry and Customer Satisfaction

Information asymmetry represents a primary challenge in consumer transactions because it enables one party’s superior knowledge over the other, thereby affecting trust together with perceived value and overall satisfaction levels (X. Zhang et al., 2024), perceived risks alongside dissatisfaction leading to hesitancy for repeated transactions (Li et al., 2023). The overall evaluation of customer experience against expected product performance defines customer satisfaction (Otto et al., 2020; Parasuraman et al., 2020). Customers who do not have enough or precise information about products become unable to make well-informed choices, which results in heightened perceived risks alongside dissatisfaction, leading to hesitancy for repeated transactions (Li et al., 2023).

The various effects that information asymmetry creates on customer satisfaction have been thoroughly researched in existing literature (Akerlof, 1978). Fundamental study proved how information asymmetry generates adverse selection, which prevents customers from differentiating from the lowest-quality products, thus decreasing market confidence. According to Elshaer et al. (2024b), consumer decisions regarding choices rely largely on the costs required to gather information since consumers only possess limited knowledge about what is available. Customer satisfaction in relation to information asymmetry consists of economic and psychological elements, including perceived fairness, trust, and expectations (F. Ali et al., 2023; Bergh et al., 2019; Khalil & Fathy, 2017).

Consumer satisfaction emerges from the match or exceedance of product or service quality versus pre-purchase estimates (Fathy, 2021). The formation of unrealistic expectations as well as misinformed assessments by uninformed customers leads to increased dissatisfaction during their purchase experience (Cham et al., 2024). It is indicated that the importance of this pattern in markets with complicated pricing systems or concealed fees and unclear quality measurement standards (Ampountolas et al., 2021).

Information asymmetry in the tourism and hospitality sector develops from service intangibility because consumers lack full knowledge of their purchased services prior to consumption (M. S. Lin et al., 2023). The mismatch of expectations between consumers and providers creates dissatisfaction when customer expectations remain unfulfilled (Hossain et al., 2023). Tourists who schedule hotel accommodation often find out the actual accommodation level only at arrival and potentially experience dissatisfaction because the received experience differs from the promised marketing materials (Pulido-Fernández et al., 2024).

E-commerce and digital platforms have revolutionized how people obtain commercial information (H. Zhang et al., 2021). The platforms help decrease information asymmetry with review features, but they create additional challenges. The practice of opaque selling websites where users make reservations without hotel identification increases consumer-perceived risks and results in decreased satisfaction. These results are consistent with Akerlof (1978) proving their communication channels alongside providing explicit information for customers to establish trust (H. S. Chen et al., 2017; Oukarfi & Sattar, 2020).

The lack of sufficient service quality information creates consumer vulnerabilities when making decisions (Oukarfi & Sattar, 2020). Web 2.0 technology has provided consumers with tools that improve their ability to evaluate products, which can affect the way information flows (X. Zhang et al., 2021). Consumer booking decisions depend on their knowledge of demand, particularly during high-priced situations, to ensure they obtain value (Chalupa & Petricek, 2024). The perception of information needs changes depending on pricing strategies because low rates can reduce the perceived need for information (C.-C. Chen & Schwartz, 2006). Customer satisfaction demonstrates asymmetry because location and personnel quality represent the main factors affecting satisfaction (Athanasopoulou et al., 2023). Evidence of high all-inclusive holiday demand underscores the fundamental role that service quality plays in satisfying customers, according to Bui and Robinson (2024). Thus, we propose the following hypothesis:

H1. 

The information asymmetry negatively affects customer satisfaction.

2.3. The Information Asymmetry and Customer Trust

The research explores trust dynamics during product and service deals when information asymmetry exists; they desire equivalent gains according to Prospect Theory (Kahneman & Tversky, 2013). Information asymmetry serves as a direct trust-killer because it creates gaps in knowledge between sellers and buyers regarding product quality and service (Akerlof, 1978), which increases their chance of obtaining defective merchandise (Q. Chen et al., 2024). The sellers’ greater product understanding about quality factors and possible defects leads to opportunities for them to sell inferior products at elevated prices (Gim & Jang, 2023).

Various studies reveal how information asymmetry brings about psychological impacts (Zamani et al., 2019) by influencing consumer trust levels and their perceptions of fairness (R. Yuan et al., 2024). Consumers generally assume sellers hide information on purpose because of their restricted knowledge (Delistavrou, 2022), which causes them to lose trust in the company (Butt et al., 2023). Customers who lack trust exhibit negative post-purchase reactions, including complaints, negative word-of-mouth, and declining brand loyalty (Elshaer et al., 2024a).

This research combines Prospect Theory with the signaling model of signaling theory (Spence, 1978) to explain that sellers can utilize signals such as warranties, independent certifications, and transparent policies to transmit quality facts and decrease information asymmetry risk (J. W. Kim & Park, 2023). Strong signals establish buyer trust by demonstrating to customers that their purchased products are authentic and dependable (Elshaer et al., 2024a; X. Ye et al., 2023).

Tourists’ experience decreased trust in tourism and hospitality services due to information asymmetry since they lack complete knowledge of destinations and services before visiting them (H. Wang & Yan, 2022). Tourists face challenges in forming confident expectations because inherent uncertainty makes expectations difficult to achieve when negative experiences or perceptions of lacking information significantly erode trust.

H. Wang and Yan (2022) view social media as a critical information channel for potential tourists because of tourism information asymmetries. The scarcity of complete information makes it impossible for consumers to correctly evaluate tourism products before destination arrival (K. Z. K. Zhang et al., 2014). Tourists reduce their uncertainty through information acquisition from trusted channels (Liu et al., 2021). User-generated content from social media platforms enjoys a reputation for honesty because it lacks commercial elements and is accessible to all people, thus making it an essential source of trust and decision-making (Iordanova & Stainton, 2019). Poor-quality destination or provider information and inaccurate or biased perceptions regarding this information can increase service uncertainties, which can lead to reduced trust levels. Trust benefits significantly from high-quality user-generated content, whereas low-quality UGC damages trust (A. J. Kim & Johnson, 2016).

The study by Vössing et al. (2022) investigates information asymmetry as it occurs between human workers and AI systems in hospitality settings. The 3-Gap framework shows information asymmetry as the difference between human mental models and AI decision models at the initial level. Agent transparency describes the system’s ability to provide humans with understanding about intelligent agents’ purposes along with performance metrics and planned actions and reasoning methods to address information asymmetry (Z. Zhou et al., 2022). According to their research, strengthening transparency through AI reasoning explanations leads to higher trust levels. This study revealed that unveiling information about AI reliability uncertainties leads to decreased trust from human users regarding AI dependability. The results demonstrate that lowering information asymmetry creates trust; however, the particular manner of presenting information remains essential. Trust decreases when information about system flaws or uncertainties lacks appropriate contextualization or confirmation (Shi et al., 2021).

The tourism sector also applies these principles. Tourists develop distrust when they perceive insufficient transparent information about protective measures, service standards, and risks at their destination (Akhtar et al., 2022). Transparent communication by destinations and service providers generates trust between them and their customers while creating customer uncertainty (Vössing et al., 2022). The study conducted by (Vössing et al., 2022) shows that offering additional information does not necessarily lead to better trust building since how information is presented makes a substantial difference when managing asymmetry in tourism data. Thus, we propose the following hypothesis:

H2. 

The information asymmetry negatively affects trust.

2.4. Trust and Customer Satisfaction

The role of trust becomes vital for customer satisfaction because it influences decisions in markets where information asymmetry prevails (Fathy & Zidan, 2017) and better satisfaction (Hidayat et al., 2021). Digital marketplaces experience greater customer satisfaction through e-safety measures combined with transparent information and secure transactions because these elements reduce market uncertainties, according to Ashiq and Hussain (2024), to enhance e-service quality and repurchase intention (Ginting et al., 2023).

Firms send trust signals about product quality (Spence, 1978) through customer reviews, detailed product information, and secure payment systems as indicators to reduce consumer skepticism and build trust relationships (Elshaer et al., 2024b). These signals facilitate the flow of information between sellers and consumers, enhancing perceived value and increasing customer satisfaction (Ramanathan et al., 2022).

In the tourism and hospitality sector, trust has a direct positive impact on customer satisfaction levels. Research findings show that trust occurs before satisfaction develops. Research demonstrates that customers who trust their hospitality providers at higher levels report higher levels of satisfaction (Islam et al., 2023). Research by Amoako et al. (2019) confirms that trust creates satisfaction in the Ghanaian hospitality industry through the positive relationship between trust and satisfaction.

Trust generates satisfaction through its influence on customers’ attitudes and expectations before and during the experience. Customers’ trust in hotels and service providers who demonstrate competence, reliability, and honesty, along with concern for their well-being, generates positive attitudes (Hao & Chon, 2022). Customer trust through the service experience facilitates more positive reviews, leading to higher satisfaction. Trust creates a healthy environment that improves customer experience ratings and increases satisfaction (N. Huang et al., 2021). Therefore, the following hypothesis is proposed:

H3. 

The trust positively affects customer satisfaction.

2.5. The Information Asymmetry and Perceived Value

Previous studies on information asymmetry have focused on corporate finance and market transactions to demonstrate how information asymmetry between parties leads to negative outcomes such as unethical outcomes and adverse selection (Fouad et al., 2024). According to prior beliefs, those with more knowledge use their informational advantage to lower prices in the restaurant industry (Gim & Jang, 2023). The dominance of social media as an information exchange platform has changed the relationship between information asymmetry and perceived value (Clauss et al., 2019).

Customer skepticism about new trends leads to purchase delays when customers decide to try innovative services in tourism and hospitality (Elshaer et al., 2024b). Customers avoid trying 3D-printed foods because they lack sufficient information about their sustainability and nutritional value, leading to them not trying them (Elshaer et al., 2024b).

Social media users face difficulties distinguishing between real and fake reviews due to influencer marketing, confusing consumers (He et al., 2022). The availability and accessibility of information increase perceptions of customer value perceptions (Fang et al., 2016). According to Cao and Sun (2018), the advantage of transparency, in addition to making information easily accessible via social media, leads to increased consumer interaction with the product. Studies on information overload indicate that users lose focus when presented with excess information, affecting their ability to assess value (Graf & Antoni, 2023).

During the pre-purchase phase of online hotel booking, potential guests do not directly experience products due to information asymmetry (Varkaris & Neuhofer, 2017). Customers are unable to evaluate actual service quality before purchasing because they cannot have first-hand experiences. They are forced to make booking decisions based on information available on travel agency websites, since it is impossible to experience the product directly (S. Kim & Mattila, 2011). Consumers’ knowledge of the service does not match the actual reality of what is offered.

Hotel consumers resort to available cues to make decisions about hotel service quality due to the lack of information (Chathoth et al., 2013). Studies confirm that visual aesthetics play a prominent role in hotels through photographs and website design (Baek & Michael Ok, 2017). People evaluate hotels’ functional aspects and quality through visual appeal because “what is beautiful is good” (Hoegg et al., 2010). These visual cues influence perceived service quality because customers base their initial assumptions on hotel website images or intermediary platforms such as booking.com (Tractinsky et al., 2000). A detrimental effect occurs when service value judgments are based on visual stimuli that convey biased information, creating false expectations about attributes that are misrepresented in images. Therefore, we propose the following hypothesis:

H4. 

The information asymmetry negatively affects perceived value.

2.6. The Perceived Value and Customer Satisfaction

Customers express their demand for assurances that services will provide value for their money (Chicu et al., 2019; Hirata, 2019; Rita et al., 2019). Customers determine their perceptions of value by evaluating how useful the product or service provided is compared to their expenditure (Zeithaml, 1988). According to Uddin (2013), perceived value acts as a determining factor for satisfaction. Research by Fornell et al. (1996) together with Hu et al. (2009) found customer satisfaction to boost positively from the perceived value. This relationship depends on how much information is available to customers and how much matches what service providers offer (Akerlof, 1978). Customers’ belief that benefits exceed costs leads to higher satisfaction throughout their entire experience (E. W. Anderson & Mittal, 2000; Fathy & Fouad, 2022), sharing information about materials, production steps, and sustainability practices (Sweeney & Soutar, 2001). Social media platforms, together with community feedback, provide customers with emotional indicators to base their choices on.

Understanding perceived value from the customer’s perspective is a key factor in determining tourist satisfaction levels. Customers make this judgment by analyzing both the benefits gained and the sacrifices made, which include financial costs, time, and effort required (Eid, 2015; Polo Peña et al., 2013; So et al., 2025; Zeithaml, 1988). Customers feel satisfied after experiencing a tourism or hotel product when they believe the benefits gained exceed the expenses they must pay (Karahan, 2024). Research findings in hotels, restaurants, rural tourism, and various cultural groups show that value and satisfaction form a positive association (Eid, 2015; Karahan, 2024; Polo Peña et al., 2013). High perceived value plays a significant role in achieving positive evaluations and subsequent satisfaction because satisfaction represents an emotional recognition of the overall evaluations from the consumption process (Karahan, 2024; Y.-H. Yuan & Wu, 2008).

When customers evaluate cognitive value, satisfaction is generated across different levels. Customer satisfaction is enhanced when they perceive the quality of their purchases at fair prices, which constitutes functional value (Eid, 2015; Polo Peña et al., 2013). Emotional value is of great importance in the tourism and hospitality industry, which focuses on post-consumption experiences. Satisfaction with any experience in tourism peaks when consumers experience pleasure and relaxation (Eid, 2015; Polo Peña et al., 2013). Studies indicate that functional and cognitive value act as positive determinants of customer satisfaction (Polo Peña et al., 2013; Y.-H. Yuan & Wu, 2008). Satisfaction outcomes occur when consumption meets or exceeds customers’ expectations and experiences preconceived feelings through the perceived value evaluation framework, including cognitive/functional elements and affective/emotional aspects (Karahan, 2024).

Perceived value varies depending on the situation. Muslim citizens were highly satisfied with the compliance of services provided with Islamic law (including halal food, prayer facilities, and appropriate entertainment) in Islamic tourism (Eid, 2015). These aspects enhanced satisfaction in terms of functional and emotional value dimensions. According to Mathwick et al. (2001), perceived value is determined through direct experience or observation and determines satisfaction levels. To enhance customer satisfaction in the tourism and hospitality sector, service providers must deliver superior perceived value that encompasses functional and emotional aspects and potential social and contextual value dimensions. Therefore, we propose the following hypothesis:

H5. 

The perceived value positively affects customer satisfaction.

2.7. The Trust and Perceived Value

According to Zeithaml (1988), perceived value stems from customers’ judgments about the benefits of a product or service versus its price, although tangible elements such as price and features do not fully determine the evaluation. A customer’s assessment of value depends largely on their trust in the service provider and provides a risk reduction, according to Pavlou et al. (2007). Trust enables customers to recognize higher benefits, according to Doney and Cannon (1997). Trust shortens the process of making decisions (Gefen, 2002). A trusted brand allows customers to decrease their evaluation work and achieve more effective decision-making by simplifying their choice process. The purchasing behavior demonstrates a high level of association with cognitive attitudes. Through better value provision, the brand strengthens its worthiness.

Trust forms a reciprocal relationship with perceived value, according to the research presented by J. C. Anderson and Narus (1990). Positive results achieved through consistent interactions with trusted providers lead customers to view the value positively, thereby strengthening their trust bond (Doney & Cannon, 1997).

Research shows customer perceptions about new tourism technologies and services heavily depend on trust. AI tourism applications research views trust (and distrust) as consumer-perceived sacrifices that compete against perceived benefits for determining overall value (Skandali et al., 2024). The value-based adoption model (VAM) dictates that value reaches its peak point by evaluating benefits that stem from happiness and immersion, sacrifices from effort, and decreased trust levels. Consumers’ level of trust in AI services directly contributes to reduced perceived sacrifices, leading to increased overall value perception (Skandali et al., 2024). Tourists perceive AI services as more valuable when they demonstrate trust in the application’s functionality, performance, or data management.

E-trust serves a vital function in minimizing risks consumers perceive from using online spaces, particularly in tourism, e-commerce, and live streaming. E-commerce presents higher perceived risks to consumers than conventional retail because they lack direct product examination and personal communication (D. Wang et al., 2025). Through E-trust, users can minimize the uncertainties and risks they experience in online interactions (D. Wang et al., 2025). Trust established between customers and the platform as well as its information providers or service providers leads to diminished concerns about potential unfavorable outcomes, including data misuse and misrepresentation. The reduction in perceived risk results in a positive service evaluation that enhances perceived value, although it does so indirectly. Trust developed through ethical foundations, including management integrity and competence, establishes reliable environments that minimize distrust, which otherwise reduces value perception (Ross, 2004).

The research suggests that perceived value can impact trust (Hariani et al., 2024; Kitsios et al., 2022), although trust emerges as the fundamental factor in molding positive customer assessments. Studies of halal tourism confirm that the development of trust depends on perceived value, yet trust functions as an essential driver for both guest pleasure and commitment to loyal services (Hariani et al., 2024). Trustworthiness functions as a base requirement that makes consumers feel safer and encourages them to use digital platforms and services (Kitsios et al., 2022). Tourists who trust both their information source and service provider tend to view the provided information or services as valuable and reliable (Kitsios et al., 2022). Therefore, we propose this hypothesis:

H6. 

Trust positively affects the perceived value.

2.8. The Mediator Role of Trust Between the Information Asymmetry and Customer Satisfaction

Information asymmetry caused by one person having more knowledge than another stands as a major obstacle to creating satisfied customers. Lack of trust leads to a loss of transparency, which ultimately leads to dissatisfaction (R. Yuan et al., 2024). The lack of customer information becomes manageable through trust, which helps organizations achieve beneficial outcomes for their customers (Elshaer et al., 2024b).

Trust may act as a mediator between information asymmetry and customer satisfaction through its ability to enhance reliability, integrity, and competence among exchange partners (Yang & Chen, 2022). Companies that build customer trust improve the process of evaluating perceived value, leading to better customer satisfaction, stronger customer loyalty, and improved business relationships (Peña-García et al., 2024).

Customers who trust a brand typically accept incomplete information because they believe the provider is acting in their best interests. Information acceptance is significantly improved when customers show trust toward the provider (Dhagarra et al., 2020). When customers trust a provider, their belief in the provider’s credibility enhances their assessment of value and satisfaction. Through trust, customers build commitment to the provider and purchase from the provider again (Hongsuchon et al., 2022). Trust between customers and providers encourages investment in their relationship and allows them to experience extended transactional value, including benefits and personalized care (Yum & Kim, 2024).

Information asymmetry is a major challenge in the tourism and hospitality industry because one party always holds more information than another during transactions, especially in online settings and the expanding peer-to-peer (P2P) sharing economy sector (S. Ye et al., 2023). The immaterial traits of services, platform mediation problems, and potentially misleading content contribute to the asymmetric information issue (Hong & Cho, 2011; S. Ye et al., 2023; Zeithaml, 1988). Platform users face inherent uncertainties, financial risks, and personal safety threats because of these online conditions (Ert et al., 2016; S. Ye et al., 2023). Consumer engagement is vital because trust is a fundamental psychological element in confronting consumers’ perceptions throughout the pre-purchase phase when information availability is minimal (Tussyadiah & Pesonen, 2016; S. Ye et al., 2023). Building trust is, therefore, paramount. Customer trust increases through transparency because this factor counteracts information asymmetry effectively (Kang & Hustvedt, 2014; S.-B. Kim & Kim, 2016). CRM practices focus on building relationships through effective information management to lower information gaps and build trust between customers and service providers, according to Karim et al. (2024) and Sofi et al. (2020).

Trust represents the fundamental element of relationship quality along with customer satisfaction (Karim et al., 2024). Trust typically refers to a partner’s honesty and reliability alongside goodwill (Amoako et al., 2019; Morgan & Hunt, 1994), and it also means a provider acting consistently with the consumer’s long-term interests (S.-B. Kim & Kim, 2016). Multiple research studies demonstrate that trust creates positive impacts on customer satisfaction (Nauroozi & Moghadam, 2015). The studies present evidence that supports trust as a mediator in the information asymmetry to satisfaction relationship through detailed analyses of related contexts. Furthermore, trust and satisfaction are collective mediators between CRM practices that reduce information asymmetry and behavioral loyalty (Karim et al., 2024). Transparency serves as a direct mitigator of asymmetry, which helps customers develop trust that functions as a middle path to achieve customer loyalty, an outcome that directly depends on satisfaction (S.-B. Kim & Kim, 2016). The effects of reduced information asymmetry achieved through transparency or effective CRM need trust as their main channel to generate favorable customer attitudes, including satisfaction. Therefore, we propose this hypothesis:

H7. 

Trust mediates the relationship between information asymmetry and customer satisfaction.

2.9. The Mediator Role of Perceived Value Between the Information Asymmetry and Customer Satisfaction

Information asymmetry becomes a challenge for customer satisfaction because it exists when a transaction participant possesses more knowledge than their counterpart (Yang & Chen, 2022). In the assessment process, customers determine product or service benefits against their cost functions as a key factor for managing information asymmetry while enabling satisfaction development (Mittal et al., 2021; Byun et al., 2021). An assessment of value functions is an indicator for both quality excellence and reliability standards (Byun et al., 2021). Customers who determine high levels of value regarding a company’s offerings will automatically see the provider as trustworthy and competent despite any missing information (Uzir et al., 2021). Risk becomes less relevant for customers when they perceive high value (Chakraborty et al., 2022).

Businesses that create positive value perceptions can use them to address information asymmetry constraints, thereby establishing enduring customer relationships (Rouibah et al., 2021). The formation of customer loyalty results from positive experiences, which are demonstrated through various research projects (Ertemel et al., 2021).

The effect of perceived value on customer satisfaction may be mediated by the ability of customers to accurately assess the trade-off between perceived benefits and risks in purchasing goods (Suzianti et al., 2022). Businesses that aim to reduce information asymmetry, promote more customer satisfaction, and increase the chances for brand loyalty (Iqbal et al., 2021).

Customer perceptions and purchase decisions in e-commerce strongly rely on information asymmetry, which affects people especially in tourism and hospitality industries (H.-C. Lin et al., 2023). The degree to which customers access and understand product details along with transaction process reliability defines product and transaction information transparency (M. S. Lin et al., 2023; L. Zhou et al., 2018). Service products such as travel packages benefit from high transparency because it helps customers understand these intangible services better (Abou-Shouk & Khalifa, 2017). Transparency brings down privacy risks and performance uncertainties by simultaneously boosting convenience and financial benefits, according to M. S. Lin et al. (2023). The reduction of information transparency in systems leads customers to experience greater risks and uncertainty that deteriorates their evaluation process (Sabiote-Ortiz et al., 2016).

The direct influence of the lack of information on the benefits and sacrifices that lead to changes to the perceived value (M. S. Lin et al., 2023). Increased concrete benefits and low sacrifices due to transparency create a perceived value. The perceived value includes functional quality, prices, and emotional and social components (El-Adly, 2019; Keshavarz & Jamshidi, 2018). The perceived value stems from the features of the product and the information obtained from the content created by customers (Ahmed et al., 2025).

Perceived value works as a mediator between information asymmetry, which is determined by a lack of transparency, and the levels of customer satisfaction in the tourism and hospitality industry. Research conducted by El-Adly (2019) confirms how customer satisfaction strengthens when customers perceive the value of products positively. Research results confirm that satisfaction increases when customers perceive the product value based on quality factors, prices, and emotional and social aspects (Cronin et al., 2000). M. S. Lin et al. (2023) explained that the continuous use is the result of the perceived value, and satisfaction is directly related to the perceived. Based on expectations, customers use information, and from it they expect performance and then compare expectations with performance (Ahmed et al., 2025). The indirect relationship occurs between the lack of consistency of information and customer satisfaction through the perceived value because information constitutes the customer’s perception, and then they compare the performance and expectations in the tourism and hospitality industry. Therefore, we propose the following hypothesis:

H8. 

The perceived value mediates the relationship between information asymmetry and customer satisfaction.

Building upon the literature reviewed in the preceding sections, this study introduces a conceptual model (Figure 1) that illustrates the hypothesized relationships among the study variables.

3. Methods

3.1. Questionnaire Design Process

3.1.1. Measures

To enhance the credibility and validity of the measurement tool—the survey questionnaire—previously established scales from prior studies were utilized. Six items from Dunk (1993) were utilized to assess information asymmetry (IA). Customer satisfaction (CS) was measured using a 4-item scale proposed by Bhattacherjee (2001) and Lim et al. (2024). The customer trust construct was measured using items adapted from an established scale by K. Kim and Kim (2011), which captures core facets of trust applicable to online environments (e.g., perceptions of vendor reliability, integrity, and credibility). These fundamental dimensions of trust are relevant across various e-commerce domains, including tourism. Finally, perceived value (PV) was gauged using four items adapted from H.-W. Kim et al. (2012). The survey questions were initially designed based on transcriptions, after which they underwent a rigorous refinement process to enhance clarity and coherence. To ensure the validity and reliability of the instrument, a panel of 18 esteemed academics and professors—each possessing extensive expertise in the relevant field—conducted a thorough review of the survey. This expert evaluation aimed to assess the questions’ appropriateness, relevance, and comprehensibility. Throughout this validation process, the core content and meaning of the questions remained intact, with no substantive modifications introduced.

3.1.2. Pilot Study

The survey used a five-point Likert rating scale that included 1 for strongly disagree and 5 for strongly agree to measure items that clearly expressed specific tourism customer experience concepts. The initial draft of questions underwent expert evaluation by five members, including two researchers in tourism management and three professionals working in both hotels and travel agencies across Egypt. The input from reviewers resulted in only three item clarifications from the draft questionnaire. The pretest involved 30 customer participants to evaluate both the items’ clarity and the responses’ duration. The questionnaire received minor modifications for clarity after participants provided their comments. Survey participants found the document easy to understand while spending between 8 and 10 min on completion. A few modifications were applied to the online version to enhance reading clarity.

The measurement tools were initially created for use in the English language. Researchers translated the scales into Arabic because the study took place in Egypt, where participants used Arabic to understand the survey. We maintained translation invariance through a back-translation process described by Brislin (1970). Two expert bilingual speakers independently performed the translation process for English measures into Arabic. A third bilingual expert conducted back-translation of the Arabic versions to English while remaining unaware of the original scales. The translators worked together to address any translation differences, which enabled them to ensure that the versions had equivalent meanings. The final Arabic version of the scales underwent pretesting with twenty tourists, demonstrating clear understanding, and no major translation-related problems were detected.

3.2. Content Validity Assessment

All the items of the study scale were derived from previous well-established and validated scales to ensure content validity. Additionally, 18 academics and professors specializing in tourism and hospitality and marketing evaluated the measurement scales to assess their content validity. A review process was established through the selection of experts who demonstrated doctoral degrees and had a high publishing rate. A team of experts assessed the scales to determine their relevance while confirming clarity and cultural suitability for the Egyptian tourist sector. The experts’ feedback led to selective changes in the survey instrument by rewriting two statements from the perceived value section and one statement from the trust section to improve clarity and cultural adaptation (specifically regarding trust towards tourism service providers). Further adjustments to these measurement scales sustained their theoretical consistency and applicability within the Egyptian tourism market.

3.3. Sampling and Data Collection

The study utilized a convenience sampling approach to collect data from customers of hotels, tourism companies, and travel agencies in Egypt. Participation in the survey was entirely voluntary, with all respondents given explicit assurances that their responses would be treated with the utmost confidentiality and used solely for research purposes. To collect data, electronic surveys were administered over two months, specifically in January and February 2025. A total of 408 respondents participated in the research, which was selected based on G*Power 3.1 software (Faul et al., 2007) to calculate the necessary sample size. The analysis indicated that 350 participants are needed based on a medium effect size (f² = 0.15), power of 0.80, and alpha of 0.05 for a model containing four latent variables (information asymmetry, trust, perceived value, and customer satisfaction). To improve reliability, we obtained 408 valid responses above the specified threshold.

The research data collection process relied on Google Forms as a secure online management platform because it offered simple distribution features and easy access. The survey link became available between January and February 2025 to gather data in a timely manner. Researchers selected participants for this study using purposive sampling methods that focused on acquiring appropriate respondents. The research included two recruitment approaches: (1) five tourism companies and hotels distributed survey invitations by email to their recent customers and (2) social media advertising campaigns on Facebook and Instagram targeted Egyptian tourists over 18 years of age with recent tourism activities. The study did not rely on external database access to contact participants; it relied on direct outreach methods through these communication channels to reach a diverse representation of Egypt’s tourism market.

Researchers made their selection of Egyptian consumers based on multiple factors. The significant status of Egypt as a tourist destination makes it ideal for investigating information asymmetry dynamics and trust factors along with perceived value perception within the emerging e-commerce travel booking sector. The examination of this market provides valuable understanding of customer reactions because it studies a substantial tourism region featuring an emerging e-commerce sector that faces serious information issues. By concentrating research on this context, the study could execute targeted data collection that relied on partnerships with local tourism providers and research access to relevant online channels.

The survey contained a screening question that checked whether respondents had received tourism services during the previous six months before continuing. The invitation messages clearly stated that participants could decide on their own to join while maintaining their confidentiality to increase truthful answers. Survey participants spent 15–20 min answering the questions presented in Arabic and English. A total of 450 participants responded, but the researcher eliminated 42 incomplete or unclear responses, such as straight-lining, while keeping 408 valid responses for analysis. The systematic process achieved a robust database that PLS-SEM with SmartPLS 3 software analyzed effectively.

The study sample consisted of 218 male participants (53.4%) and 190 female participants (46.6%). Regarding educational background, 283 respondents (69.4%) held a university degree, while 84 participants (20.6%) had completed middle-level education.

3.4. Data Analysis

The study adopted the Partial Least Squares Structural Equation Modeling (PLS-SEM) approach using SmartPLS software to validate the research hypotheses, while SPSS 22.0 was utilized for descriptive analysis. PLS-SEM was deemed appropriate for this study as the primary objective was to predict one or more dependent variables rather than to confirm an established theoretical framework. Furthermore, the PLS approach is beneficial for evaluating complex models involving independent, dependent, mediating, and moderating variables. This methodology follows a two-stage process: assessing the measurement (outer) model and evaluating the structural (inner) model (Hair et al., 2017).

4. Results

4.1. Test of Common Method Bias (CMB) and Normality

Harman’s single-factor test assessed the potential presence of common method bias (CMB) in the measurement instrument. According to Podsakoff et al. (2003), CMB becomes a concern when a single factor accounts for more than 50% of the total variance. The analysis indicated that a single factor explained 46.881% of the variance, suggesting that CMB was not a significant issue in this study. Furthermore, data normality was evaluated by examining skewness and kurtosis values. As presented in

Table 1. Confirmatory factor analysis results for measurement model.

Factors and Items	λ	VIF	Mean	SD	SK	KU
Information asymmetry (IA) (α = 0.907, CR = 0.928, AVE = 0.683)
IA_1	0.817	2.251	3.326	1.287	−0.369	−0.935
IA_2	0.823	2.300	3.382	1.278	−0.382	−0.853
IA_3	0.847	2.512	3.275	1.228	−0.416	−0.783
IA_4	0.831	2.396	3.154	1.219	−0.143	−0.825
IA_5	0.820	2.388	3.108	1.153	−0.164	−0.704
IA_6	0.821	2.369	3.240	1.176	−0.239	−0.844
Trust (Trust) (α = 0.840, CR = 0.904, AVE = 0.758)
Trust_1	0.843	1.852	3.000	1.200	0.309	−0.874
Trust_2	0.878	1.997	3.169	1.149	0.095	−0.675
Trust_3	0.889	2.190	3.157	1.137	0.032	−0.564
Perceived value (PV) (α = 0.891, CR = 0.924, AVE = 0.754)
PV_1	0.886	2.681	3.238	1.081	0.359	−0.978
PV_2	0.882	2.697	3.250	1.137	0.213	−1.058
PV_3	0.870	2.463	3.435	1.009	0.186	−0.815
PV_4	0.835	1.982	3.404	1.049	0.120	−1.030
Customer satisfaction (CS) (α = 0.895, CR = 0.927, AVE = 0.760)
CS_1	0.875	2.475	3.159	1.009	0.137	−0.281
CS_2	0.886	2.654	3.154	1.039	0.004	−0.401
CS_3	0.886	2.548	3.142	1.077	−0.036	−0.548
CS_4	0.841	2.162	3.262	1.087	−0.167	−0.466

Note: SK = Skewness, KU = Kurtosis, SD = Standard Deviation, VIF = Variance Inflation Factor.

, the absolute values for skewness and kurtosis across all items remained within the recommended thresholds of +2 and +7, respectively (Curran et al., 1996), confirming that non-normality did not pose a concern.

4.2. Psychometric Characteristics of the Measurement Model

Following the recommendations of Hair et al. (2019), the convergent validity (CV) of the measurement model in PLS-SEM was assessed using several key indicators: factor loadings (λ), Cronbach’s alpha (α), and composite reliability (CR), all of which must exceed the threshold of 0.70. Additionally, the average variance extracted (AVE) should be greater than 0.50 to ensure adequate construct validity. As illustrated in Table 1, the measurement model meets all these criteria, thereby confirming the adequacy of convergent validity and the reliability of the internal model.

Regarding discriminant validity (DV), Fornell and Larcker (Fornell & Larcker, 1981) indicated that the average variance extracted (AVE) for each construct should exceed the squared inter-construct correlations. Additionally, the heterotrait–monotrait ratio (HTMT) test has been utilized in prior research as an alternative method for assessing DV, with an acceptable threshold of less than 0.90 (Gold et al., 2001). As presented in

Table 2. Discriminant validity.

	Fornell–Larcker Criterion Matrix				HTMT Matrix
	1	2	3	4	1	2	3	4
Customer satisfaction	0.872
2. Information asymmetry	−0.503	0.827			0.554
3. Perceived value	0.562	−0.663	0.868		0.626	0.734
4. Trust	0.538	−0.520	0.640	0.870	0.617	0.591	0.739

, the analysis confirms that the discriminant validity criteria have been successfully met.

4.3. Structural Model and Testing Hypotheses

The structural model was assessed using key statistical indicators, including Variance Inflation Factor (VIF), Coefficient of Determination (R²), predictive relevance (Q²), and Beta coefficients (β), following the recommendations of Hair et al. (2019). As shown in Table 2, the VIF values ranged between 1.852 and 2.697, remaining well below the critical threshold of 5.0. This confirms the absence of significant collinearity between independent and dependent variables, ensuring that multicollinearity is not a concern (Hair et al., 2019).

Regarding the model’s explanatory power, the R² value for customer satisfaction was 0.389, indicating that the independent variables accounted for 38.9% of the variance in this construct. Similarly, perceived value demonstrated an R² of 0.560, while customer trust exhibited an R² of 0.270, surpassing the commonly accepted minimum threshold of 0.10. Furthermore, the Q² values were consistently above 0.0, affirming the model’s predictive relevance. Additionally, the β coefficients were statistically significant at the 0.01 level. These results prove that the inner model exhibits a robust and satisfactory fit with the data (Hair et al., 2019).

After confirming the validity of the measurement and structural model benchmarks, PLS-SEM was operated to test the proposed hypotheses (

Table 3. Hypotheses testing.

Hypothesis			β	t	p	Remark
Direct effect
H1. Information asymmetry → Customer satisfaction			−0.187	2.663	0.008	✔
H2. Information asymmetry → Trust			−0.520	11.770	0.000	✔
H3. Information asymmetry → Perceived value			−0.453	7.637	0.000	✔
H4. Trust → Customer satisfaction			0.273	4.099	0.000	✔
H5. Perceived value → Customer satisfaction			0.263	3.764	0.000	✔
H6. Trust → Perceived value			0.405	7.532	0.000
Indirect mediating effect
H7. Information asymmetry → Trust → Customer satisfaction			−0.142	3.527	0.000	✔
H8. Information asymmetry → Perceived value → Customer satisfaction			−0.119	2.912	0.004	✔
Customer satisfaction	R2	0.389	Q2	0.276
Perceived value	R2	0.560	Q2	0.396
Trust	R2	0.270	Q2	0.191

).

Table 3 shows that information asymmetry had a significant and negative effect on customer satisfaction (β = −0.187, t = 2.663, p < 0.008), customer trust (Trust) (β = −0.520, t = 11.770, p < 0.000), and perceived value (β = −0.453, t = 7.637, p < 0.000), supporting Hypothesis 1, Hypothesis 2, and Hypothesis 3. Additionally, customer trust positively influenced both customer satisfaction (β = 0.273, t = 4.099, p < 0.000) and perceived value (β = 0.405, t = 7.532, p < 0.000), confirming Hypothesis 4 and Hypothesis 6, respectively. Furthermore, the perceived value affected customer satisfaction (β = 0.263, t = 3.764, p < 0.000), validating Hypothesis 5. Regarding the mediation effects, customer trust mediated the link between information asymmetry and customer satisfaction (β = −0.142, t = 3.527, p < 0.000), confirming Hypothesis 7. Similarly, the perceived value successfully mediated the relationship between information asymmetry and customer satisfaction (β = −0.119, t = 2.912, p < 0.000), supporting Hypothesis 8 as shown in Figure 2.

5. Discussion

This study thoroughly evaluated the connection between information asymmetry, customer trust, perceived value, and consumer satisfaction within e-commerce. Our results give strong empirical support for all eight presented hypotheses, showing the crucial role of information asymmetry in shaping online consumer experiences and illustrating the major mediating impacts of trust and perceived value.

The study verifies that information asymmetry diminishes customer satisfaction (H1: β = −0.187, p < 0.01) and trust (H2: β = −0.520, p < 0.01) and perceived value (H3: β = −0.453, p < 0.01) following information asymmetry theory’s fundamental principles (Akerlof, 1978). Research confirms that information asymmetry results in diminished satisfaction because it creates customer uncertainty, decreases vendor trust, and diminishes transaction value (Gupta & Kim, 2010; H.-W. Kim et al., 2004). Customer distrust and dissatisfaction rise in tourism e-commerce due to incomplete information access, according to Akerlof’s framework. This study builds upon this theory by studying asymmetry effects in the digital tourism field, where physical inspection absence reinforces the power of asymmetry (Bergh et al., 2019). The trusted signals identified by Spence (1978) in signaling theory fail to appear in online environments, thus resulting in reduced trust. The research findings contribute to Matsuoka (2022), which shows how insufficient information affects trust, but they stand in contrast to X. Ye et al. (2023) because peer-to-peer platforms rely on strong relational indications. This research in the Egyptian developing tourism market demonstrates the necessity of greater visibility through transparent practices to minimize information imbalance because it contributes valuable new insights to the digital hospitality satisfaction literature.

Trust (H4: β = 0.273, p < 0.01) and perceived value (H5: β = 0.263, p < 0.01) directly boost customer satisfaction and act as full mediators of the negative relation between information asymmetry effects on satisfaction in tourism e-commerce transactions. Results from information asymmetry theory (Akerlof, 1978) demonstrate that trust and perceived value are key mechanisms that reduce marketplace weaknesses resulting from knowledge disparities while upholding the theory’s goal of decreasing consumer uncertainty. According to signaling theory (Spence, 1978), customers form trust through reliable indicators such as clear policies, while perceived value from fair prices or personalized service enables them to disregard information asymmetry (McKnight et al., 2002; Otto et al., 2020; Zeithaml, 1988). Our study establishes the co-mediation effect of trust and perceived value on tourism literature through its divergence from Matsuoka (2022), who focused on trust’s singular importance. Research demonstrates a positive link between trust and perceived value (H6: β = 0.405, p < 0.01), as described by Morgan and Hunt’s (1994) commitment-trust theory, which supports recent findings in hospitality according to Butt et al. (2023) and Q. Chen et al. (2024). The study by X. Ye et al. (2023) in tourism and hospitality diverges from this study because trust does not substantially affect perceived value in peer-to-peer digital settings in the tourism market. The current study deepens existing literature by showing how trust and perceived value work together to reduce asymmetry’s effects and supports the implementation of trust-building methods as well as value-adding approaches to improve online tourism satisfaction.

The study results show that trust (H7: β = −0.142, p < 0.01) and perceived value (H8: β = −0.119, p < 0.01) act as key mediators between information asymmetry and customer satisfaction in tourism e-commerce based on information asymmetry theory (Akerlof, 1978). Information asymmetry reduces satisfaction because it reduces customer trust and perceived value before reducing experience satisfaction. The study contributes to Akerlof’s theory by demonstrating that trust and perceived value can eliminate inefficiencies caused by knowledge gaps, but our findings go beyond traditional models. Within Spence’s (1978) signaling framework, trust acts as a signal, improving expectancy and reducing uncertainty. Studies by J. W. Kim and Park (2023) and Zamani et al. (2019) support the current findings but differ from the process (X. Ye et al., 2023) because their study demonstrated a weak mediating role in tourism. The research builds on the academic contribution of Matsuoka (2022) by introducing a dual mediator to explain its growing importance in the digital market in Egypt, along with its regulatory vacuum. Tourism organizations must develop trust-building measures (such as providing timely assistance) while enhancing perceived value through clear price presentations to counter the negative effects of information asymmetry, which remains crucial to achieving online satisfaction. This research builds a robust theoretical framework that demonstrates the relationship between information asymmetry, trust, perceived value, expectancy, and disconfirmation theories towards shaping customer satisfaction in tourism.

Trust and perceived value likely perform differently as mediators depending on how much involvement consumers have with their tourism service purchase. Customers who make high involvement purchase decisions involving complex international vacations or luxury travel packages invest both a substantial amount of money and emotional dedication while feeling more at risk. The situation requires customers to place supreme trust in the service providers. Individuals encountering significant information gaps during expensive purchases need extremely solid provider reliability and competence assurances to reduce perceived risks. Trust-based mediation (information asymmetry → trust → satisfaction) demonstrates stronger effects when customers deal with high involvement services.

Furthermore, the interplay between information asymmetry, trust, perceived value, and satisfaction may manifest differently depending on the level of consumer involvement required by the tourism service purchase. High involvement services, such as complex, expensive luxury travel packages, demand customers invest both a substantial amount of money and significant emotional dedication, inherently increasing their perceived risk. This heightened perceived financial, psychological, and time risk necessitates that customers place supreme trust in the service providers to mitigate uncertainty (X. Ye et al., 2023). Individuals encountering potentially significant information gaps during these high stakes, often extensively researched purchases require extremely robust assurances of provider reliability and competence. Consequently, the trust-based mediation pathway (information asymmetry → trust → satisfaction) likely demonstrates particularly strong effects in such contexts, as trust becomes a primary mechanism for risk reduction. Moreover, the perceived value in high involvement scenarios often extends beyond mere price considerations, critically encompassing experiential, emotional, and social dimensions (Eid, 2015; Karahan, 2024) that are highly sensitive to the level of trust established.

When consumers engage in low-involvement decisions about hotel bookings or transport tickets, they attempt to reach functional outcomes by using minimal effort. The required level of trust in these cases matches the standards for reliability and security alongside offering satisfactory value (S.-B. Kim & Kim, 2017). Consumers who operate in low-involvement settings employ decision shortcuts along with ease of access and cost-effectiveness instead of performing extensive product assessment (Otto et al., 2020). When consumers judge the overall purchasing risks to be minimal, they will accept small information gaps since the detrimental effects of information asymmetry prove less significant to them in comparison to high value purchases. In low-risk situations, trust functions as an apparent mediator, yet perceived value may move its judgments toward functional attributes, while trust processes might demonstrate reduced significance when compared to high risk choices. This study establishes essential general mechanisms without testing differences in involvement type. Future research should quantify purchase involvement between these proposed relationships for a comprehensive understanding of the mediation pathway strength.

The present study yields important general mechanisms but fails to establish distinctions based on service involvement level. Research studies need to specifically explore how purchase involvement affects these proposed relationships by testing them empirically and improving knowledge about which dynamics function best when consumers buy different types of products online.

5.1. Theoretical Implications

This study provides theoretical contributions that explain consumer behavior in the e-tourism sector, which is dominated by large knowledge disparities. Because tourism products have three attributes (Parasuraman et al., 1985; Zeithaml, 1988)—intangible, experiential, and heterogeneous—consumers find it difficult to evaluate them before purchasing, making them rely on digital information such as website descriptions, user reviews, and online travel agent (OTA) information (Gretzel & Yoo, 2008; Xiang & Gretzel, 2010). The reliance on digital information between hotels and their customers leads to knowledge asymmetries. Testing an integrated model of information asymmetry, trust, perceived value, and satisfaction supports this study’s theoretical frameworks. The study makes a fundamental research contribution by applying empirical findings to extend the scope of information asymmetry theory from economics to the individual psychological analysis of consumer behavior. The results of this study demonstrate how Akerlof’s (1978) study of insufficient information at the market level produces specific negative psychological effects on consumers in digital services contexts. Our analysis conclusively supports this study with empirical data, as high information asymmetry directly leads to customer dissatisfaction, reduced trust, and lower perceived value. The study provides empirical evidence that information inadequacy, beyond objective evaluations, leads to negative psychological responses.

This study supports information asymmetry theory to understand consumers’ reactions to information asymmetry when physical product inspections are not possible. Online tourism purchases are constrained by the complex nature of services, which creates barriers to consumer evaluation (X. Zhang et al., 2024). Research suggests that consumers become more apprehensive about online transactions because tourism services require a complete evaluation of the experience (Ashiq & Hussain, 2024; Handoyo, 2024). The lack of accurate information about service providers and their products erodes customer confidence, affects price and quality evaluations, and leads to unsatisfactory transaction outcomes.

This study makes a noteworthy theoretical contribution because it provides detailed psychological explanations about how information asymmetry negatively impacts customer satisfaction within online tourism settings. Research extends previous studies by moving past demonstrating the basic negative connection between information asymmetry and satisfaction. The study examines the mechanisms of this effect through empirical validation of customer trust and perceived value as vital intermediate factors. Researchers have successfully identified key intermediate variables in understanding how consumers react to information disparities in tourism e-commerce (H.-C. Lin et al., 2023; S. Ye et al., 2023).

The study results demonstrated that information asymmetry harms customer trust. Consumer perception that sellers have better information or hide information raises suspicion, leading customers to view the transaction as riskier (Handoyo, 2024). This leads consumers to doubt the seller’s intent and integrity because they fear ulterior motives and question the validity of the information provided by the seller (Ashiq & Hussain, 2024). Trust served as a strong mediator between information asymmetry and satisfaction levels because a lack of trust reduces positive interactions with service providers, especially in online purchases (Ginting et al., 2023). Empirical findings confirm that perceived value acts as an important mediator between the study variables. Asymmetric information hinders consumers’ ability to determine the validity of their assessment of the value they receive.

The research findings make important contributions to trust theory research in e-commerce. The study demonstrates the well-established positive associations of trust with customer satisfaction and perceived value (Morgan & Hunt, 1994), emphasizing trust as a key buffer against uncertainty resulting from information asymmetry. This study positions trust as a key psychological resource that enables consumers to cope with incomplete information and risks in e-transactions, given its significant mediating effect on these aspects. Consumers use trust as a mental shortcut to transaction success by trusting despite incomplete information, thus reducing the direct negative impact that value analysis typically has on satisfaction. E-markets rely heavily on building trust as a practical way to address their inherent market inefficiencies.

The study supports the perceived value theory (Zeithaml, 1988) by detailing that information asymmetry hinders value perception in web-based tourism. The study demonstrates that perceived value maintains a positive relationship with satisfaction, but the main original finding shows how information asymmetry reduces value perception before causing significant harm to customer satisfaction. The study reveals that information asymmetry has such a negative impact because it disrupts customers’ ability to weigh benefits versus costs in their purchasing decisions. Customers who receive inadequate or inaccurate information cannot correctly determine an offer’s usefulness or fairness, which reduces their perceived value and satisfaction. The research identifies a specific sequence of factors (information asymmetry causing poor perceived value leading to dissatisfaction) that serves as a fundamental element in theoretical models of online consumer choice.

The research integrates information asymmetry theory by linking it to the principles of expectancy and disconfirmation theory (EDT) proposed by Oliver (1980). The lack of equal knowledge between buyers and sellers enables consumers to form expectations using signals provided by the seller, which may contain deceptive or insufficient information. The discovery of misleading information about a service leads consumers to form inflated expectations, which become the basis for disconfirmation when the service delivery fails to meet these expectations. This mismatch results in negative disconfirmation, leading to lower levels of service satisfaction. The evaluation system in our framework relies heavily on trust levels and perceived value ratings, as low trust and decreased value due to information asymmetry enhance negative disconfirmation and ultimate satisfaction levels. The main achievement of this work involved creating and validating a combined theoretical model. This model demonstrates how information asymmetry is directly related to satisfaction outcomes through the mechanisms of trust and perceived value to assess consumer satisfaction in tourism e-commerce.

The study’s research outcomes, along with theoretical developments, lead to a modified conceptual structure that analyzes customer satisfaction in tourism e-commerce environments with high information asymmetry. Information asymmetry theory is the root theoretical analysis defining the main contextual challenge. The framework introduces customer trust and perceived value as two separate pathways to explain what happens when negative information asymmetry affects consumer satisfaction.

The modified framework shows consumers determine their final satisfaction through information asymmetry assessment, which extends beyond direct perception of imbalance to incorporate its related trust measurements and value evaluation aspects. Trust and perceived value assessments weakened by information asymmetry function independently to decrease customer satisfaction because information asymmetry simultaneously attacks trust while compromising evaluative capabilities. The framework recognizes how trust interacts positively with perceived value at the same time.

The structural model developed here through empirical research functions as an explicit representation of the suggested theoretical framework. This integrated framework based on information asymmetry theory with trust theory and perceived value theory and EDT evaluative context makes a more thorough and evidence-based examination beyond standalone theoretical explanations. The research provides an effective base for future investigations of consumer satisfaction in information-intensive environments such as tourism e-commerce, which stresses the importance of trust management and value understanding in reducing asymmetrical challenges.

A theoretical framework about information asymmetry theory with added trust and perceived value mediation provides substantial applicability to all digital contexts that contain information asymmetry. The guest experience with AI-driven personalization and smart features, along with dynamic pricing, depends on brand trust and technology confidence as well as the identified customer benefits from such innovations, which act as mediators for underlying information asymmetries. Consumer satisfaction about complex products and ethical sourcing claims, as well as review authenticity in online retail marketing, depends strongly on the level of trust in retailers and perceived value-for-money, which reduces information gaps. The perceived value from platform engagement with algorithms and quality assessments works hand in hand with user trust in platform operations to form user satisfaction for marketplace and gig economy participants. Investigating how this theoretical model functions in multiple disciplinary areas would reinforce trust and perceived value as central psychological elements for handling information asymmetry in the digital era while establishing potential new directions for cross-disciplinary research.

5.2. Practical Implications

Research findings provide useful practical insights to help e-commerce businesses establish better customer satisfaction and strong customer relationships throughout the competitive online market. The research identifies the importance of preventing information asymmetry and producing effective trust management and value perception tactics. Online retailers can implement multiple practical recommendations based on the research findings.

E-commerce platforms need to establish complete openness as their primary business strategy. Online retailers must present all their products with detailed, precise information that customers can easily comprehend. High-quality visual content, such as 360-degree views and user-submitted material, helps online shoppers experience products virtually before buying (X. Ye et al., 2023). Prospective customers need to see thorough specifications, side-by-side comparisons with other products, and complete explanations about prices, delivery fees, and terms. Businesses should anticipate the weaknesses of their products and clearly share them with customers to create an environment based on openness and trust (X. Zhang et al., 2024). The proactive method of disclosure has direct links to preventing deceptive practices because such practices both damage customer trust and destroy brand reputation (Cham et al., 2024).

The study reveals that trust functions as a significant mediator, so businesses should prioritize trust-building systems. Internet businesses need multiple strategies to develop customer confidence in order to succeed. Businesses must adopt fundamental security protocols that incorporate secure payment systems using SSL encryption protocols and specific privacy policy statements (Ramanathan et al., 2022). Trust in businesses can be strengthened through visible display of third-party organization certifications along with their trust seals. The public display of honest customer feedback, including minor issues, improves business credibility and demonstrates complete transparency (Peña-García et al., 2024). Customers develop trust in a business through effective and fast communication in responding to their queries and complaints while demonstrating superior service standards (Fathy & Zidan, 2017).

E-commerce businesses need to concentrate on maintaining competitive prices while separately developing strategies to upgrade their product value perception for customers. Businesses should effectively demonstrate their products’ distinctive features by emphasizing quality attributes together with their unique specifications (Zeithaml, 1988). Great customer support built around individualized suggestions backed by ready assistance throughout all customer stages generates substantial worth. Strategic loyalty programs, exclusive discounts, and bundled offers enhance value perception, increasing customer loyalty and repeat business (Chicu et al., 2019; Hirata, 2019; Rita et al., 2019).

Another strategy is to use the content of previous customer reviews. Online platforms should ask their consumers to provide reviews and experiences they have gained from trying the products and post these reviews on their official websites. Positive reviews serve as influential evidence that customers use to reduce hesitation in purchasing as they build trust among consumers (Hidayat et al., 2021). Constructive feedback and negative reviews deserve immediate responses from companies that aim to improve their services by evaluating customer performance. Prompt customer responses demonstrate that their feedback is important and that the company immediately addresses their concerns. Protecting customers’ personal information is the fifth step that companies should implement using security measures along with informing customers about these safety measures to build trust (Dhagarra et al., 2020). The key to success in today’s changing e-commerce market is to combine comprehensive monitoring with continuous adjustments to business practices. A company needs to continue monitoring performance indicators, including customer satisfaction, trust, and purchase conversion metrics, while adjusting its practices. Companies gain key trends by analyzing online reviews and discussions, enabling them to actively respond to changing customer needs and concerns. Continuous repetition of reviews keeps strategic approaches relevant and effective for extended use.

Hotels and tourism companies must create transparent and easy-to-understand content in their digital offerings. Providing comprehensive and clear information about products and services, their prices, associated taxes and fees, and all terms and conditions should remain a priority. Companies can reduce consumer skepticism by combining high-quality images, virtual tours, and detailed product descriptions that include reliable customer reviews (S. Ye et al., 2023). Effectively identifying and resolving uncertainties or hidden details helps prevent misperceptions of asymmetry, reducing the risk of asymmetry.

Trust is the key foundation for success. Users should expect hotels and tourism companies to establish secure transaction processes (Handoyo, 2024), ensure fair refund policies and responsive customer service, and manage their online presence through customer interactions (Ashiq & Hussain, 2024). Security badges next to association membership, as well as contact details available on the website, enhance consumer confidence, according to Peña-García et al. (2024). Hotels and tourism companies must demonstrate reliability and integrity in all operations, as trust significantly reduces the negative effects of information asymmetry on customer satisfaction.

Hotels and tourism companies must demonstrate that their products offer customers more than just reasonable prices. Perceived value increases when companies focus on their unique benefits, service quality, convenience, experiential aspects, and positive customer outcomes (Karahan, 2024; Souki et al., 2024). Combining personalized suggestions and loyalty programs, along with comprehensive service packages, helps hotels deliver enhanced value to customers when compared to their competitors (Yum & Kim, 2024). The positive impact of information adequacy on perceived value determines customer satisfaction, so maintaining good perceptions of value remains critical. It is critical to continuously track customer satisfaction by analyzing feedback through surveys and review data, as well as feedback forms (Ginting et al., 2023). Companies use customer satisfaction data to identify opportunities to improve information provision while developing trust-building initiatives and value-enhancing strategies to shape a continuous improvement process focused on customer experiences.

Destination management organizations (DMOs) act as key actors in reducing significant information asymmetries at the destination level. Official destination websites and digital platforms operated by DMOs should contain reliable and complete information and regular updates. Specifically, these platforms should collect reliable information about accommodation, attractions, activities, transportation, safety guidelines, accessibility features, and sustainability practices from various local service providers (H.-C. Lin et al., 2023). Standardized information enables customers to compare available options and reduces confusion when making purchasing decisions.

Destination branding enhances its credibility through the work of DMOs. Local businesses should participate in programs focused on quality assurance, which DMOs actively promote through certification programs or ethical tourism charters. Enhancing trust in a destination requires effective reputation management, particularly on online review sites, along with promoting credibility on social media and transparent communication with customers during times of crisis. Trust is strengthened when clear consumer protection procedures and dispute resolution services are available to customers.

DMOs’ marketing activities should focus on highlighting the unique benefits of visiting the destination. These organizations should also focus their promotional activities on highlighting authentic cultural moments, along with natural exploration sites and events hosted by locals, which are integral to the quality-of-life visitors experience at destinations. DMOs enable business-to-business partnerships, which generate unique offers and specialized, value-added tour itineraries. DMOs should share detailed cost information on accommodation options, local tax details, and travel expenses to maintain visitor satisfaction and ensure fair pricing.

DMOs are a key source for tracking visitor feedback on the quality of information received, their trust in local service providers, and their perception of destination value. Tourism boards can collect and evaluate the collected feedback to present this data to local travel companies through educational workshops, reports, and best practice recommendations. Destination management organizations should act as advocates for procedures and standards that emphasize transparency and ethical behavior among all stakeholders, leading to improved visitor satisfaction by reducing asymmetry and enhancing trust and value-based perceptions.

The research provides essential insights that service organizations need to consider when developing strategies for recovering from service issues and managing reputational impacts on digital tourism platforms. Information asymmetry functions as an underlying reason behind service failures because customers perceive dissatisfied results from limited or false online information about their expected service levels. Businesses that identify information asymmetry as a main reason for problems can create stronger recovery solutions specific to the root issue. Professional service recovery actions for these cases require more than basic apologies or compensation payments since they require customers to understand the information gap between online marketing and actual delivery. Customers find tremendous value in directly recognizing the problem (“We understand the photos were not fully representative and are updating them”) when rebuilding trust. Our research evidence shows trust serves as an essential connection type; thus, recovery actions should deliberately establish trust through reliable behavior and integrity practices. The recovery process must include adequate measures to restore perceived value either through compensation solutions or long-term rewards that target the main satisfaction pathways of information asymmetry.

These market dynamics produce direct consequences for businesses that seek to manage their online reputations. Individuals who experience unsolved dissatisfaction from asymmetric information situations often express their complaints through negative online reviews, which influence customer trust and future perceptions (Peña-García et al., 2024). Organizations need to handle adverse reviews that stem from complaints by implementing solutions for both the specific complaints and corresponding information asymmetry cases. Customers recognize reputational improvement from genuine responses that both admit information deficits and present remedial solutions over evasive, non-specific statements. A proactive approach stands as the ultimate and most successful method for reputation management. Businesses should actively work to decrease information asymmetry through their detailed and accurate online communications to stop negative customer experiences and dissatisfaction from occurring. A successful track record in promise fulfillment, objectively proven trustworthiness, and sustained appreciation of value constitutes the foundation for lasting positive online reputations across the high stakes tourism e-commerce market.

Establishing and protecting trust remains the fundamental aspect. A platform builds trustworthiness by taking explicit steps to communicate reliability. The platform should implement strong transaction security systems and display established security badges such as SSL counters and secure payment certification badges (Handoyo, 2024). The key to trust-building involves offering clear cancellation terms that are simple to access and fair to customers, since ambiguity remains a primary trust-killer. All costs should be presented clearly to customers either in full amount before final booking or organized into distinct sections showing all fees and taxes together (S. Ye et al., 2023). The placement of essential third-party certifications and affiliations should be conspicuous so visitors can benefit from external credibility. Execute transparent contact channels that deliver responsible customer service and maintain reliable communication support. Consistent online reputation management requires engagement with customer feedback and verified review implementation to improve review authenticity. Amazing signals that show reliability and integrity need to be displayed consistently because trust minimizes the impact of information asymmetry on satisfaction scores.

Companies must explain their value benefits to customers above and beyond basic cost factors. The process includes teaching customers about ways they can effectively evaluate values in their purchasing decisions. Develop educational materials such as online tutorials that demonstrate how customers can select appropriate tour packages through budget-focused approaches and how to read hotel rating systems for sustainability standards. Booking interfaces should implement sorting and filtering features through which customers can select options featuring specific valuable inclusions such as hotel breakfast free of charge or airport shuttle service. The website must show parallel package comparisons, which help clients judge product features against price points. Guests should easily spot essential value features such as “Ocean View Guarantee” and “Includes Local Craft Workshop” through visual markers such as icons and callouts. Businesses improve perceived customer value through individualized suggestions, loyalty rewards, and inclusive packages. Customers who understand the offerings from their perspective through enhanced information and tools deliver higher perceived value to businesses that satisfy them despite information uncertainty.

Using artificial intelligence tools represents an effective approach to transforming transparency into operational reality as well as establishing trust. The deployment of advanced AI chatbots on booking platforms serves as a straightforward solution to combat information asymmetry. The dynamic chatbot system surpasses static FAQ pages by supplying immediate context-based answers to particular user questions regarding complex cancellation policies as well as hidden fees and exact room amenities before trust breakdown occurs. The continuous provision of accurate information through programmed bots demonstrates business reliability to customers so they feel more confident throughout their first interaction (Fouad et al., 2024).

AI brings substantial benefits to service enhancement by understanding personal requirements for perceived value enhancement beyond standard delivery. Tourism providers who take advantage of AI predictive personalization capabilities enlarge their options beyond generic product recommendations. An AI system utilizes customer travel data and stated preferences to suggest personalized vacations that specifically feature ‘guided historical tours’ or ‘family-friendly activities’. By showing specific recommended choices that include detailed pricing information and descriptions, both functional and emotional value increase together with simpler decision-making, which ultimately strengthens customer satisfaction and loyalty (Skandali et al., 2024).

5.3. Limitations and Future Research

This research has yielded useful results, but at the same time, some limitations define areas that should be addressed in future studies. The research findings cannot be applied to populations outside Egypt due to the population differences. Future studies need to use samples outside Egypt to improve their validity. The current study measured user satisfaction through cause-and-effect relationships because this research collects data through a cross-sectional approach. Future studies must follow a longitudinal approach to measure the correct sequence of events, providing dynamic research insights. Consequently, a critical direction for future research involves the cross-cultural and cross-market validation of the proposed model. Testing the framework in diverse settings, including other emerging economies as well as developed economies, is essential to ascertain the generalizability of our findings beyond the specific Egyptian context.

The authors limited their study to specific dimensions of the constructions. Further research needs to explore alternative mediating variables such as perceived risk alongside perceived fairness and brand reputation, as well as various moderating variables including customer experience alongside platform characteristics and cultural elements. Organizational elements that demonstrate a commitment to sustainability along with distinctive green workplace cultures act as mediators that influence the relationship between information asymmetry and customer experiences, especially in hospitality settings (Elshaer et al., 2024c). This approach will allow researchers to better understand the multifaceted factors. New research is needed as e-commerce technology continues to advance rapidly. Future research should investigate how emerging technologies such as augmented reality and virtual reality, combined with AI-powered shopping assistants, can reduce information asymmetry and increase transparency to enhance overall customer experience (Elshaer et al., 2024d; Fouad et al., 2024; Nassar & Fouad, 2022). Future studies should analyze how hotels can create environmentally friendly innovations while improving their ability to adopt new sustainable practices that benefit both customers and the environment (Fathy et al., 2024a; Salem et al., 2025).

Future research must deal with how artificial intelligence (AI) can reduce information asymmetry and enhance customer trust and satisfaction in tourism. AI-driven tools, such as chatbots and recommender systems, can provide transparent, personalized information, which improves decision-making. Studies can investigate the use of generative AI to create personalized travel experiences and its impact on perceived value. One research question is, how does AI-based personalization affect trust and perceived value in online travel booking websites? Augmented and virtual reality (AR/VR) enable immersive pre-trip experiences, such as virtual hotel tours or destination previews, with the potential to mitigate uncertainty and enhance satisfaction. Research needs to examine the effects of AR/VR in luxury AI resorts on booking intention and perceived value. The research question is, how far do AR/VR technologies diminish information asymmetry and enhance customer satisfaction in tourism?

Blockchain technology can enhance price and service information transparency, establishing trust in tourism transactions. Future research must investigate blockchain-based review mechanisms for improving the credibility of user-generated content and their implications for decision-making. An example of a research question addressing this is, to what extent can blockchain technology improve information transparency and trust in peer-to-peer tourism platforms such as Airbnb?

Social media sites shape visitor attitudes through real-time information sharing, which impacts satisfaction and trust. Research needs to focus on the ways in which user-generated content (UGC) behavior on social networks impacts information trust and perceived value. A key inquiry is, to what degree does social media tourism information quality mediate the effect of information asymmetry on customer satisfaction?

Sustainability in tourism is key to addressing customers’ expectations of environmentally responsible practices. The influence of green human resource management and hotel circular economy measures on trust and perceived value needs to be researched. Research can also explore the way environmental certifications reduce information asymmetry for sustainable practices. One fascinating question is, how do green practices observable in tourism companies influence customer trust and loyalty?

The adoption of sustainable technologies, such as energy-efficient technologies or 3D food printing, can enhance tourist attitudes. Future research must explore their impact on perceived value and customer satisfaction, particularly for small and medium enterprises. One proposed question is, does the adoption of sustainable technologies in tourist services influence perceived value and customer satisfaction?

Tourism operators are able to leverage cultural heritage and community engagement to construct perceived value and trust, specifically in coastal or rural regions. Studies need to analyze how public services assist in sustainable tourism and impact visitor satisfaction. A key question is: How do customer trust and long-term loyalty correlate with sustainable tourism programs in communities?

Transparent CSR practices, such as fair labor and conservation of nature, can reverse information asymmetry and generate loyalty. Research needs to identify how sustainability-focused communication in e-commerce markets influences trust and satisfaction. A research question is, how do transparent CSR practices in the tourism industry influence customer value perceptions and satisfaction?

Studies should explore synergies between sustainability and technology, such as smart tourism environments that integrate IoT, AI, and sustainable practices to enhance experiences with minimal environmental impact. Another research topic can be how digital platforms enable sustainable tourism brands and trust (Bakr et al., 2025). Longitudinal studies can assess the long-term effectiveness of these integrated strategies on customer loyalty. Sample questions are, how do smart tourism ecosystems balance innovation and sustainability? In addition to, how does digital trust facilitate sustainable branding and satisfaction?

6. Conclusions

Research tackled information asymmetry challenges in tourism e-commerce by evaluating its negative impacts on satisfaction while verifying trust and perceived value as essential mediation factors. Research evidence shows how elevated perceptions of asymmetrical information directly lower satisfaction, together with trust and perceived value, while trust and perceived value enhance satisfaction. The study establishes that information asymmetry negatively affects customer satisfaction mainly through decreased trust and diminished perceived value levels. This investigation uses consumer behavior research to demonstrate how information asymmetry theory works through specified psychological processes, thus establishing relationships between trust, value, and satisfaction. Careful management of information clarity and strong customer trust with clear value communications are essential practices for tourism e-commerce providers and DMOs to handle information asymmetry’s detrimental outcomes. This research delivers a strong empirical model that deepens both theoretical foundations and provides operational strategies to strengthen online tourism consumer results.