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Issues In The Development Of An Estimable Dynamic Model Of Recreation Behavior

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  • Provencher, Bill
  • Bishop, Richard C.

Abstract

Static travel cost models have been only partially successful in modeling the sequential aspects of a recreation decision like the decision to fish. In this paper we describe a dynamic structural model of the decision to visit a recreation site. The model is best described as a dynamic multinomial logit model. By virtue of its dynamic nature, the model avoids the problem of the independence of irrelevant alternatives that afflicts static multinomial logit models. Welfare effects of changes in site quality are easily calculated via dynamic programming.

Suggested Citation

  • Provencher, Bill & Bishop, Richard C., 1995. "Issues In The Development Of An Estimable Dynamic Model Of Recreation Behavior," Staff Papers 12614, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    • Handle: RePEc:ags:wisagr:12614
    DOI: 10.22004/ag.econ.12614
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    References listed on IDEAS

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    3. Edward R. Morey & Robert D. Rowe & Michael Watson, 1993. "A Repeated Nested-Logit Model of Atlantic Salmon Fishing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 578-592.
    4. Zvi Eckstein & Kenneth I. Wolpin, 1989. "The Specification and Estimation of Dynamic Stochastic Discrete Choice Models: A Survey," Journal of Human Resources, University of Wisconsin Press, vol. 24(4), pages 562-598.
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    8. Fafchamps, Marcel, 1993. "Sequential Labor Decisions under Uncertainty: An Estimable Household Model of West-African Farmers," Econometrica, Econometric Society, vol. 61(5), pages 1173-1197, September.
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