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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- 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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