Modelling micro-level tourism expenditure: recommendations on the choice of independent variables, functional form and estimation technique

• Christer Thrane ^[1]
  1. [1] Lillehammer University College, Norway
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 20, Nº. 1, 2014, págs. 51-60
• Idioma: inglés
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• Dialnet Métricas: 2 Citas
• Resumen

  • 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.