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Growth Expectations and Decision to Renovate a Golf Course: An Application of a Censored Model with the Simultaneity Test

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Author Info
Bilgic, Abdulbaki
Florkowski, Wojciech J.
Abstract

Golf course renovation and expected business growth were examined. Endogeneity test on the renovation decision and a censored expected growth model rejected the hypothesis of simultaneity and decisions were modeled separately. Key determinants for both decisions were golf facility features, but not respondents'’ characteristics.

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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2006 Annual meeting, July 23-26, Long Beach, CA with number 21446.

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Date of creation: 2006
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Handle: RePEc:ags:aaea06:21446

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Keywords: Research Methods/ Statistical Methods;

References listed on IDEAS
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  1. Mata, Jose, 1996. "Markets, entrepreneurs and the size of new firms," Economics Letters, Elsevier, vol. 52(1), pages 89-94, July. [Downloadable!] (restricted)
  2. Rivers, Douglas & Vuong, Quang H., 1988. "Limited information estimators and exogeneity tests for simultaneous probit models," Journal of Econometrics, Elsevier, vol. 39(3), pages 347-366, November. [Downloadable!] (restricted)
  3. Smith, Richard J & Blundell, Richard W, 1986. "An Exogeneity Test for a Simultaneous Equation Tobit Model with an Application to Labor Supply," Econometrica, Econometric Society, vol. 54(3), pages 679-85, May. [Downloadable!] (restricted)
  4. Cesar L. Escalante & Wojciech J. Florkowski & Gil W. Landry & Pierre I. Boumtje, 2004. "Alternative Demand for University Outreach Services from Georgia's Golf Industry," Review of Agricultural Economics, American Agricultural Economics Association, vol. 26(1), pages 118-131, 02. [Downloadable!] (restricted)
  5. Liu, Jin-Tan & Tsou, Meng-Wen & Hammitt, James K., 1999. "Do small plants grow faster? Evidence from the Taiwan electronics industry," Economics Letters, Elsevier, vol. 65(1), pages 121-129, October. [Downloadable!] (restricted)
  6. Vella, F. & Verbeek, M., 1994. "Two-Step Estimation of Simultaneous Equation Panel Data Models with Censored Endogenous Variables," Discussion Paper 55, Tilburg University, Center for Economic Research. [Downloadable!]
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