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.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.