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Modelling distribution of aggregate expenditure on tourism

Gómez–Déniz, E. and Pérez–Rodríguez, J.V.

Economic Modelling, 2019, vol. 78, issue C, 293-308

Abstract: The aim of this article is to obtain a statistical distribution that describes the aggregate expenditure of tourists related to their length of stay at a given location. This distribution enables us to estimate two parameters simultaneously; one controls the length of stay and the other, the expense incurred. We propose two distribution models, for which closed-form expressions are obtained. Covariates are introduced in order to study the factors that affect the aggregate expenditure. The results obtained indicate that the models achieve a reasonably good fit, with and without covariates.

Keywords: Aggregate expenditure; Compound model; Tourism (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:eee:ecmode:v:78:y:2019:i:c:p:293-308