Modeling Recreation Demand in a Poisson System of Equations: An Analysis of the Impact of International Exchange Rates
9 Pages Posted: 31 Mar 2020
Date Written: May 1998
We extend count data travel cost modeling by developing a utility theoretic system of semilogarithmic recreation demand equations. The restrictions required to make the system utility theoretic are applied during estimation. The model is applied to individual wilderness recreation trips in a system of four Canadian wilderness parks. The resulting demand system is used to examine the impacts of changing U.S.‐Canadian currency exchange rates on participation and welfare of U.S. recreationists.
Keywords: demand systems, economic development, Poisson, travel cost, F310, Q260
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