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    Modelling recreation demand with revealed and stated preference panel data under conditions of endogenous stratification and truncation: A latent class approach

    Access Status
    Fulltext not available
    Authors
    Greene, William
    Hynes, S.
    Date
    2011
    Type
    Journal Article
    
    Metadata
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    Citation
    Greene, W. and Hynes, S. 2011. Modelling recreation demand with revealed and stated preference panel data under conditions of endogenous stratification and truncation: A latent class approach. American Journal of Agricultural Economics. 75 (3): pp. 604-611.
    Source Title
    American Journal of Agricultural Economics
    Additional URLs
    http://www.webmeets.com/files/papers/EAERE/2011/1116/Hynes%20and%20Greene%20ERE1.pdf
    ISSN
    14678276
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/21275
    Collection
    • Curtin Research Publications
    Abstract

    In this paper, we present an extension of Shaw’s (1988) and Englin and Shonkwiler’s (1995) count data travel cost models corrected for on-site sampling to a panel data setting. We develop a panel data negative binomial count data model that corrects for endogenous stratification and truncation. We also incorporate a latent class structure into our panel specification which assumes that the observations are drawn from a finite number of segments, where the distributions differ in the intercept and the coefficients of the explanatory variables. Results of this model are compared to some of the more common modelling approached in the literature. The chosen models are applied to revealed and contingent travel data obtained from a survey of visitors to a beach on the outskirts of Galway city in Ireland. The paper argues that count data panel models corrected for on-site sampling may still be inadequate and potentially misleading if the population of interest is heterogeneous with respect to the impact of the chosen explanatory variables.

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