EconPapers    
Economics at your fingertips  
 

Estimating Demand Systems when Outcomes Are Correlated Count

Joseph Herriges (), Daniel Phaneuf and Justin Tobias ()

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: We develop a Bayesian posterior simulator for fitting a high dimensional system of ordinal or count outcome equations, illustrating its use by modeling the multiple site recreation demands of individual agents to a set of twenty-nine Iowa lakes. The model flexibly adjusts to match observed frequencies in trip outcomes, permits a flexible correlation pattern among the visited sites, and the posterior simulator for fitting this model is relatively easy to implement. We also describe how the model can be used to conduct counterfactual experiments, including predicting behavioral changes and describing welfare implications resulting from shifts in demographic and site characteristics.

Keywords: recreation demand; Demand systems; counts; Bayesian analysis (search for similar items in EconPapers)
JEL-codes: C30 (search for similar items in EconPapers)
Date: 2008-05-14
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Published in Journal of Econometrics 2008, vol. 147 no. 2, pp. 282-298

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Estimating demand systems when outcomes are correlated counts (2008) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:12934

Access Statistics for this paper

More papers in Staff General Research Papers Archive from Iowa State University, Department of Economics Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070. Contact information at EDIRC.
Bibliographic data for series maintained by Curtis Balmer ().

 
Page updated 2019-10-13
Handle: RePEc:isu:genres:12934