Determinants of tourist expenditure: a review of microeconometric models
This paper presents a comprehensive review of the econometric approaches for the analysis of tourism expenditure at individual level. The attempt to consider only regression models is novel in literature. The paper resumes 86 papers and 354 estimates of econometric models from data at individual level, ranging from 1977 to the early 2012. Discussion focuses on models used, dependent variables, explanatory variables by category and their effect on expenditure. The most frequently used explanatory variables were income, socio-demographic and trip-related, and were tested mainly through classical regression techniques (OLS, quantile, Tobit and two-step, logistic). Future research directions should concern the exploration of new evidence through novel methodological techniques, a more extensive use of psychographic variables and a stronger relation to economic theory.
|Date of creation:||25 Apr 2012|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hauser, John R & Urban, Glen L, 1986. " The Value Priority Hypotheses for Consumer Budget Plans," Journal of Consumer Research, Oxford University Press, vol. 12(4), pages 446-462, March.
- Cragg, John G, 1971. "Some Statistical Models for Limited Dependent Variables with Application to the Demand for Durable Goods," Econometrica, Econometric Society, vol. 39(5), pages 829-844, September.
- Mullahy, John, 1986. "Specification and testing of some modified count data models," Journal of Econometrics, Elsevier, vol. 33(3), pages 341-365, December.
- Cameron,A. Colin & Trivedi,Pravin K., 2005. "Microeconometrics," Cambridge Books, Cambridge University Press, number 9780521848053, September.
- Diego R. Medina-Muñoz & Rita D. Medina-Muñoz, 2012. "Determinants of Expenditures on Wellness Services: The Case of Gran Canaria," Regional Studies, Taylor & Francis Journals, vol. 46(3), pages 309-319, June.
- Heckman, James, 2013.
"Sample selection bias as a specification error,"
Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
- Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-161, January.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
- W. M. Gorman, 1980. "A Possible Procedure for Analysing Quality Differentials in the Egg Market," Review of Economic Studies, Oxford University Press, vol. 47(5), pages 843-856. Full references (including those not matched with items on IDEAS)