We predict that in evaluating alternative equidistant trip chains (i.e., combining of multiple destinations into a single outing), consumers will choose trip chains where destinations are more clustered (i.e., closer to each other) and further from origin over equidistant trip chains where destinations are less clustered but closer to origin. This prediction is based on assumptions of diminishing marginal sensitivity and reference-point dependence postulated by reference-dependent theory.

In air
Refundable air tickets:
While lowest fares on most airlines are non-refundable, some airlines have more lenient policies than others for passenger-initiated changes and cancellations. On Southwest you may cancel a reservation and apply funds paid for that ticket to any future ticket within next year with no charge. You can make a similar move on JetBlue for a $30 service charge and on AirTran for a $50 fee.

Booking on one of these airlines is an insurance policy against fare changes. If price goes up, you're already locked in at lower rate. And if price goes down, you can always cancel that reservation and rebook same itinerary at lower rate. Even if another airline offers a lower fare, you can cancel your first reservation and save that credit for a future ticket.

Connections and alternate airports:
As I have discussed in previous Business Traveler columns, if you are willing to make a connection or use an alternate airport it can lead to great savings.

One-way air fares:
With elimination of many fare restrictions it often pays to price your trip as two (or several) one way flights (perhaps on different airlines) in addition to a round trip on a single carrier.

Combining trips:
I often save air fare by combining two business trips if possible. By triangle-ing a trip to two destinations, it might mean one less flight and one less air fare to pay.