Dynamic and stochastic structures in tourism demand modeling
AbstractIn this paper we consider a model for international tourism demand. The analysis departure from a utility function that is both dynamic and stochastic. In the model the stochastic component is interpreted as random changes in preferences for goods and services, whereas the dynamic component can be seen as either habit formation or interdependent preferences. The resulting demand functions are estimated as a multivariate state space model, where the stochastic components enter the model as stochastic seasonal and trend components. An application is done for different segments of the Swedish tourism market.
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Bibliographic InfoArticle provided by Springer in its journal Empirical Economics.
Volume (Year): 30 (2005)
Issue (Month): 2 (09)
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Other versions of this item:
- Nordström, Jonas, 2002. "Dynamic and Stochastic Structures in Tourism Demand Modelling," UmeÃ¥ Economic Studies 596, Umeå University, Department of Economics.
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
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- Muhammad Chaudhary & Amitrajeet Batabyal, 2009. "A stochastic analysis of alternate ways of scheduling transport for tourists," Letters in Spatial and Resource Sciences, Springer, vol. 2(2), pages 67-75, October.
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- Amitrajeet Batabyal, 2009. "An independence result concerning the arrival rate of and the provision of transport to tourists," Economics Bulletin, AccessEcon, vol. 29(1), pages 108-115.
- repec:ebl:ecbull:v:12:y:2007:i:4:p:1-7 is not listed on IDEAS
- Boopen, Seetanah, 2005. "Transport Capital as a Determinant of Tourism Development: A Time Series Approach," MPRA Paper 25402, University Library of Munich, Germany, revised 07 Nov 2006.
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