A Comparison of Three Methods for Estimating Tourism Demand Models

Clive L. Morley
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Clive L. Morley: Graduate School of Business, RMIT, GPO Box 2476V, Melbourne, 3001 Australia

Tourism Economics, 1996, vol. 2, issue 3, 223-234

Abstract: Estimation of tourism demand models involves a set of related equations with errors which may not satisfy the common assumptions of regression modelling. Results from a simulation exercise show that, for the error types and small samples considered, the Generalized Method of Moments is less accurate on average than the Ordinary Least Squares and Seemingly Unrelated Regression methods, which had very similar accuracies. Overall, the Ordinary Least Squares technique performs well and the results give little reason to use the more complex estimation techniques.

Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:2:y:1996:i:3:p:223-234

DOI: 10.1177/135481669600200302

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