Factors that Influence Sales of Forestry-Related Specialty License Plates in Southern United States

Md Farhad Hossain Masum, Shaun Tanger, Holley Gordon and John Westra ()

No 230290, 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas from Southern Agricultural Economics Association

Abstract: In recent years, vanity license plates have become an increasingly popular way to raise awareness and show support for a myriad of issues with which the plate is linked. Several states along with various forestry education provider organizations have developed a forestry license plate. Vehicle owners can purchase the plates to show their support towards forestry by buying that license plate, which generates revenue for the provider organization. Using county level data from 4 states in the United States, a statistical model was developed examine explanatory factors of forestry based specialty license plate sales in 2014. Using linear OLS model and elasticity model, we observed that the significant predictor variables are—income, population density, area of county in acres, acres of timberland in the county, percentage of people who are 65 or older, and the number of people associated with forestry related jobs. All these variables are found to be positively related to the increase of plate sales. After a certain level, plate sales started to decline with increasing number of people associated with forestry related jobs.

Keywords: Environmental Economics and Policy; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saea16:230290

DOI: 10.22004/ag.econ.230290

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