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http://dx.doi.org/10.15266/KREEA.2014.23.2.331

Estimating the Economic Value of Recreation Sea Fishing in the Yellow Sea: An Application of Count Data Model  

Choi, Jong Du (Department of business administration)
Publication Information
Environmental and Resource Economics Review / v.23, no.2, 2014 , pp. 331-347 More about this Journal
Abstract
The purpose of this study is to estimate the economic value of the recreational sea fishing in the Yellow Sea using count data model. For estimating consumer surplus, we used several count data model of travel cost recreation demand such as a poisson model(PM), a negative binomial model(NBM), a truncated poisson model(TPM), and a truncated negative binomial model(TNBM). Model results show that there is no exist the over-dispersion problem and a NBM was statistically more suitable than the other models. All parameters estimated are statistically significant and theoretically valid. The NBM was applied to estimate the travel demand and consumer surplus. The consumer surplus pre trip was estimated to be 254,453won, total consumer surplus per person and per year 1,536,896won.
Keywords
count data model; individual travel cost method; over-dispersion; poisson; negative binomial; truncated poisson; truncated negative binomial;
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Times Cited By KSCI : 2  (Citation Analysis)
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