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Research on market governance has emphasized top-down strategies, often neglecting the demand-side dynamics. To address this limitation, this research constructs an analytical framework grounded in constructive-spontaneous theory. Utilizing Fuzzy-set Qualitative Comparative Analysis on a large-scale online review dataset, we examine how diverse governance configurations shape sustainable tourism experiences. The results show that the efficacy of governance models is contingent upon the level of external risks. In low-risk scenarios, both government-led constructive governance and platform-led spontaneous governance can effectively enhance the tourism experience. However, high-risk environments demand a synergistic governance model. This study highlights a paradigmatic shift from unidimensional governance towards polycentric coordination and explains the influence of risk events on market governance through a demand-oriented perspective.
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Wang et al. (2026) studied this question.
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