Household Demand For Finfish: A Generalized Double-Hurdle Model
This study estimates household demand for finfish in the United States using a limited dependent variable model that accounts for both participation and consumption decisions and also accommodates nonnormal heteroskedastic errors. Results suggest that own-price elasticity is near unitary and income elasticity is small. Price of finfish, shopping frequency, Northeast, Black and other non-Whites, and the life-cycle variable Â“"young, single, no childrenÂ”" are they key factors that affect significantly both the probability of participation and the level of finfish consumption. Furthermore, a variable may exert opposite effects on the probability and level of consumption.
Volume (Year): 21 (1996)
Issue (Month): 02 (December)
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- Paarsch, Harry J., 1984. "A Monte Carlo comparison of estimators for censored regression models," Journal of Econometrics, Elsevier, vol. 24(1-2), pages 197-213.
- MacKinnon, James G & Magee, Lonnie, 1990. "Transforming the Dependent Variable in Regression Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(2), pages 315-39, May.
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- Nayga, Rodolfo M., Jr. & Capps, Oral, Jr., 1995. "Factors Affecting The Probability Of Consuming Fish And Shellfish In The Away From Home And At Home Markets," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
- Arabmazar, Abbas & Schmidt, Peter, 1981. "Further evidence on the robustness of the Tobit estimator to heteroskedasticity," Journal of Econometrics, Elsevier, vol. 17(2), pages 253-258, November.
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