Estimation of Recreation Demand Models Using Dual Approaches

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Title: Estimation of Recreation Demand Models Using Dual Approaches
Author: Wang, Yang
Advisors: Matthew Holt, Committee Co-Chair
Russell Lamb, Committee Member
Raymond Palmquist, Committee Member
Daniel Phaneuf, Committee Co-Chair
Abstract: The purpose of this dissertation is to investigate dual approaches to corner solutions that are both tractable and flexible in recreation demand. Two structural models are estimated using data from the Iowa wetlands survey in the incomplete demand system context. This dissertation expands existing economic literature on recreation demand in several respects, including 1) combining incomplete demand system framework with corner solution estimation, 2) advancing knowledge on estimating utility consistent recreation models allowing for corner solutions, 3) presenting feasible computational techniques for the use in recreation demand estimation. The results show that parameter estimates under the models studied have a similar pattern with the expected signs. However, the two models predict different correlation patterns among error terms across recreation sites and have different behavioral interpretations. I also construct welfare measures under various scenarios and find that the welfare measures are consistent with the expected signs and are of reasonable magnitudes.
Date: 2003-08-18
Degree: PhD
Discipline: Economics
URI: http://www.lib.ncsu.edu/resolver/1840.16/4274


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