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Controlling for Observed and Unobserved Site Characteristics in RUM Models of Recreation Demand

  • Babatunde O. Abidoye
  • Joseph A. Herriges
  • Justin L. Tobias

Recreation demand models are typically plagued by limited information on site attributes. If these unobserved site attributes are correlated with the observed characteristics and/or the travel cost variable, the resulting parameter estimates are likely to be biased. We develop a Bayesian approach to estimating a model that incorporates a full set of alternative-specific constants, insulating the key travel cost parameter from the influence of unobservables. The proposed posterior simulator can be used in the mixed logit framework in which some parameters of the conditional utility function are random. We apply the estimation procedures to data from the Iowa Lakes Project. Copyright 2012, Oxford University Press.

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Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 94 (2012)
Issue (Month): 5 ()
Pages: 1070-1093

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Handle: RePEc:oup:ajagec:v:94:y:2012:i:5:p:1070-1093
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  1. Koop, Gary M & Poirier, Dale J & Tobias, Justin, 2007. "Bayesian Econometric Methods," Staff General Research Papers 12722, Iowa State University, Department of Economics.
  2. repec:cup:cbooks:9780521855716 is not listed on IDEAS
  3. repec:cup:cbooks:9780521671736 is not listed on IDEAS
  4. Daniel J. Phaneuf & Catherine L. Kling & Joseph A. Herriges, 1998. "Estimation and Welfare Calculations in a Generalized Corner Solution Model with an Application to Recreation Demand," Center for Agricultural and Rural Development (CARD) Publications 99-wp207, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  5. Steven T. Berry, 1994. "Estimating Discrete-Choice Models of Product Differentiation," RAND Journal of Economics, The RAND Corporation, vol. 25(2), pages 242-262, Summer.
  6. Hanemann, W. Michael, 1981. "Water quality and the demand for recreation," CUDARE Working Paper Series 164, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
  7. John A. Downing, 2009. "Valuing Water Quality as a Function of Water Quality Measures," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(1), pages 106-123.
  8. Herriges, Joseph A. & Phaneuf, Daniel J., 2002. "Inducing Patterns Correlation and Substitution in Repeated Logit Model of Recreation Demand," Staff General Research Papers 5035, Iowa State University, Department of Economics.
  9. Herriges, Joseph A. & Kling, Catherine L. & Phaneuf, Daniel J., 1999. "Corner Solution Models of Recreation Demand: A Comparison of Competing Frameworks," Staff General Research Papers 1513, Iowa State University, Department of Economics.
  10. Sha Yang & Yuxin Chen & Greg Allenby, 2003. "Bayesian Analysis of Simultaneous Demand and Supply," Quantitative Marketing and Economics, Springer, vol. 1(3), pages 251-275, September.
  11. Murdock, Jennifer, 2006. "Handling unobserved site characteristics in random utility models of recreation demand," Journal of Environmental Economics and Management, Elsevier, vol. 51(1), pages 1-25, January.
  12. Hanemann, W. Michael, 1981. "Water Quality and the Demand for Recreation," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt1jv1j7d1, Department of Agricultural & Resource Economics, UC Berkeley.
  13. Jiang, Renna & Manchanda, Puneet & Rossi, Peter E., 2009. "Bayesian analysis of random coefficient logit models using aggregate data," Journal of Econometrics, Elsevier, vol. 149(2), pages 136-148, April.
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