Inducing Patterns of Correlation and Substitution in Repeated Logit Models of Recreation Demand

15 Pages Posted: 14 May 2003

See all articles by Joseph A. Herriges

Joseph A. Herriges

Iowa State University - Department of Economics

Daniel J. Phaneuf

North Carolina State University - Department of Agricultural & Resource Economics

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Abstract

Repeated logit models are among the most commonly applied methods for modeling seasonal recreation demand. In this article we examine the capabilities of the repeated nested logit and repeated mixed logit models to capture patterns of error correlation and demand substitution. Particular attention is paid to the use of the mixed logit framework to generalize the strong assumptions on correlation patterns across sites and choice occasions imbedded in the nested logit model. We examine the implications for the range of price elasticities allowed in both models based on the implied correlation structures.

Suggested Citation

Herriges, Joseph A. and Phaneuf, Daniel J., Inducing Patterns of Correlation and Substitution in Repeated Logit Models of Recreation Demand. Available at SSRN: https://ssrn.com/abstract=366509

Joseph A. Herriges (Contact Author)

Iowa State University - Department of Economics ( email )

260 Heady Hall
Ames, IA 50011
United States

Daniel J. Phaneuf

North Carolina State University - Department of Agricultural & Resource Economics ( email )

Box 8109
3332 Nelson Hall
Raleigh, NC 27695-8109
United States

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