Microeconometric Strategies for Dealing with Unobservables and Endogenous Variables in Recreation Demand Models
AbstractThe past decade has witnessed significant advances in the microeconometric analysis of recreation data. In this review, we focus on two areas in which these innovations have been especially prolific: accounting for unobserved preference heterogeneity and controlling for unobserved and possibly endogenous site characteristics, such as congestion. Failure to appropriately address these issues with the nonlinear models typically used in recreation demand analysis can severely bias parameter and welfare estimates. We consider these issues of widespread importance within and beyond recreation demand applications. We also expect these estimation challenges to become more ubiquitous as the field gradually moves toward region-wide, multisite applications in reaction to large-scale environmental changes.
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Bibliographic InfoArticle provided by Annual Reviews in its journal Annual Review of Resource Economics.
Volume (Year): 3 (2011)
Issue (Month): 1 (October)
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Find related papers by JEL classification:
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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- Melstrom, Richard & Lupi, Frank, 2012.
"Using a Control Function to Resolve the Travel Cost Endogeneity Problem in Recreation Demand Models,"
48036, University Library of Munich, Germany, revised May 2013.
- Melstrom, Richard T. & Lupi, Frank, 2013. "Using a Control Function to Resolve the Travel Cost Endogeneity Problem in Recreation Demand Models," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149732, Agricultural and Applied Economics Association.
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