Modelling Micro-Level Tourism Expenditure: Recommendations on the Choice of Independent Variables, Functional Form and Estimation Technique

Christer Thrane
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Christer Thrane: Lillehammer University College, Faculty of Economics and Organization Science, Box 952, 2604 Lillehammer, Norway, and Institute of Transport Economics, Gaustadalléen 2, 0349 Oslo, Norway

Tourism Economics, 2014, vol. 20, issue 1, 51-60

Abstract: Marcussen (2011a) distinguished between the vital and the not-so-vital determinants of micro-level tourism expenditure. Arguably, the lessons learned from Marcussen's study, combined with best practice in recent econometric modelling, have set a new higher standard for future research on this topic. Against this background, this paper gives practical advice on how to improve the modelling of micro-level tourism expenditure in the future. Three issues are discussed: (a) the choice of independent variables; (b) the choice of functional form; and (c) the choice of estimation technique. Empirical illustrations are provided.

Keywords: tourism expenditure; determinants; statistical modelling; model specification; regression analysis; quantile regression (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (22)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:20:y:2014:i:1:p:51-60

DOI: 10.5367/te.2013.0254

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