Recreation Demand Equations: Functional Form and Consumer Surplus

摘要: The subject of recreation demand has increasingly attracted the attention economic research. equations resulting from this research follow Hotelling-Clawson model demand, in which occasions (or days) recreated is specified as a function average cost and distance traveled per occasion various combinations other explanatory variables. Linear, quadratic, semilog functional forms have been used widely empirical applications model. Linear specifications employed often for computational or analytical ease (Burt Brewer; Brown, Singh, Castle; Cicchetti, Fisher, Smith; Clawson Knetsch). Other chosen frequently on basis statistical significance consistency coefficients with theoretical expectations. Examples form are Batie, Jensen, Hogue; Sawyer Shulstad. A quadratic expression was by Gum Martin. fourth form, log-log, also appeared (Kalter Gosse; Wetzstein Green), but will not be considered here reasons to developed later. As results study demonstrate, choice can significant effect consumer surplus values derived equations. This paper presents set decision criteria between three popular that previously linear made via conventional hypothesis-testing procedures. Box Cox transformation procedure allows linear, semilog, power transformations dependent variable. consequences particular investigated. plan first, specify an appropriate regressors; second, choose form; and, finally, demonstrate estimates regression Choice Regressors