Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model
Two demand models of recreational participation and site choice are developed: an alternatives model and an expenditures model. Both assume maximization of utility over the year, so allow for diminishing marginal utility. They do not impose the restrictive assumption that where one goes on a trip is...
Published in: | American Journal of Agricultural Economics |
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2001
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Online Access: | http://ajae.oxfordjournals.org/cgi/content/short/83/2/414 https://doi.org/10.1111/0002-9092.00166 |
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fthighwire:oai:open-archive.highwire.org:ajae:83/2/414 2023-05-15T15:31:48+02:00 Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model Morey, Edward R. Breffle, William S. Greene, Pamela A. 2001-05-01 00:00:00.0 text/html http://ajae.oxfordjournals.org/cgi/content/short/83/2/414 https://doi.org/10.1111/0002-9092.00166 en eng Oxford University Press http://ajae.oxfordjournals.org/cgi/content/short/83/2/414 http://dx.doi.org/10.1111/0002-9092.00166 Copyright (C) 2001, Agricultural and Applied Economics Association Articles TEXT 2001 fthighwire https://doi.org/10.1111/0002-9092.00166 2013-05-27T11:50:41Z Two demand models of recreational participation and site choice are developed: an alternatives model and an expenditures model. Both assume maximization of utility over the year, so allow for diminishing marginal utility. They do not impose the restrictive assumption that where one goes on a trip is independent of where one plans to go on other occasions. Estimation is with a nested constant-elasticity-of-substitution preference ordering: it is relatively easy to estimate because of global regularity, it allows sites to be complements, and it has the potential to be locally flexible. The application is to Atlantic salmon fishing. Text Atlantic salmon HighWire Press (Stanford University) American Journal of Agricultural Economics 83 2 414 427 |
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HighWire Press (Stanford University) |
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English |
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Articles |
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Articles Morey, Edward R. Breffle, William S. Greene, Pamela A. Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model |
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Articles |
description |
Two demand models of recreational participation and site choice are developed: an alternatives model and an expenditures model. Both assume maximization of utility over the year, so allow for diminishing marginal utility. They do not impose the restrictive assumption that where one goes on a trip is independent of where one plans to go on other occasions. Estimation is with a nested constant-elasticity-of-substitution preference ordering: it is relatively easy to estimate because of global regularity, it allows sites to be complements, and it has the potential to be locally flexible. The application is to Atlantic salmon fishing. |
format |
Text |
author |
Morey, Edward R. Breffle, William S. Greene, Pamela A. |
author_facet |
Morey, Edward R. Breffle, William S. Greene, Pamela A. |
author_sort |
Morey, Edward R. |
title |
Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model |
title_short |
Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model |
title_full |
Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model |
title_fullStr |
Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model |
title_full_unstemmed |
Two Nested Constant-Elasticity-of-Substitution Models of Recreational Participation and Site Choice: An 'Alternatives' Model and an 'Expenditures' Model |
title_sort |
two nested constant-elasticity-of-substitution models of recreational participation and site choice: an 'alternatives' model and an 'expenditures' model |
publisher |
Oxford University Press |
publishDate |
2001 |
url |
http://ajae.oxfordjournals.org/cgi/content/short/83/2/414 https://doi.org/10.1111/0002-9092.00166 |
genre |
Atlantic salmon |
genre_facet |
Atlantic salmon |
op_relation |
http://ajae.oxfordjournals.org/cgi/content/short/83/2/414 http://dx.doi.org/10.1111/0002-9092.00166 |
op_rights |
Copyright (C) 2001, Agricultural and Applied Economics Association |
op_doi |
https://doi.org/10.1111/0002-9092.00166 |
container_title |
American Journal of Agricultural Economics |
container_volume |
83 |
container_issue |
2 |
container_start_page |
414 |
op_container_end_page |
427 |
_version_ |
1766362310963625984 |