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 &bull Diffusion Processes
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
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- 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.
- Amitrajeet Batabyal, 2007. "A probabilistic analysis of a scheduling problem in the economics of tourism," Economics Bulletin, AccessEcon, vol. 12(4), pages 1-7.
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