Issues In The Development Of An Estimable Dynamic Model Of Recreation Behavior
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.
|Date of creation:||Oct 1995|
|Contact details of provider:|| Postal: University of Wisconsin, Dept. of Agricultural and Applied Economics, 427 Lorch Street, Madison, WI 53706|
Web page: http://www.aae.wisc.edu/
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.:
- 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.
- Rust, John, 1987. "Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher," Econometrica, Econometric Society, vol. 55(5), pages 999-1033, September.
- Provencher Bill, 1995. "Structural Estimation of the Stochastic Dynamic Decision Problems of Resource Users: An Application to the Timber Harvest Decision," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 321-338, November.
- Rust, J., 1991. "Estimation of dynamic Structural Models: Problems and Prospects Part I : Discrete Decision Processes," Working papers 9106, Wisconsin Madison - Social Systems.
- Milon, J. Walter, 1988. "Travel Cost Methods For Estimating The Recreational Use Benefits Of Artificial Marine Habitat," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(01), July.
- Morey, Edward R. & Shaw, W. Douglass & Rowe, Robert D., 1991. "A discrete-choice model of recreational participation, site choice, and activity valuation when complete trip data are not available," Journal of Environmental Economics and Management, Elsevier, vol. 20(2), pages 181-201, March.
- Milon, J. Walter, 1988. "Travel Cost Methods for Estimating the Recreational Use Benefits of Artificial Marine Habitat," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(01), pages 87-101, July.
- 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.
- Stephen K. Swallow, 1994. "Intraseason Harvest Regulation for Fish and Wildlife Recreation: An Application to Fishery Policy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(4), pages 924-935.
When requesting a correction, please mention this item's handle: RePEc:wop:wiaesp:387. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel)
If references are entirely missing, you can add them using this form.