A Finite Mixture Logit Model of Recreational Angling with Serially Correlated Random Utility

Bill Provencher · Kenneth A. Baerenklau · Richard C. Bishop

119 citations0/0 files storedAmerican Journal of Agricultural Economics

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Economic and Environmental Valuation Recreation, Leisure, Wilderness Management Bayesian Methods and Mixture Models

Abstract

Abstract This article examines two issues concerning the trip‐taking behavior of recreational anglers over the course of a season. The first is whether the random component of trip utility is serially correlated across trip occasions. The second is the heterogeneity of preferences among anglers. Recent research has examined heterogeneity among recreational trip‐takers using random parameters models. In this article, the population of anglers is, instead, cast as a collection of several subpopulations distinguished by angler preferences, and the method of finite mixtures is used to identify these subpopulations.

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References

1986On Approximating the Statistical Properties of Elasticities 1998Recreation Demand Models with Taste Differences over People 1994A structural equation model of latent segmentation and product choice for cross-sectional revealed preference choice data 2000Halton Sequences for Mixed Logit 1994On Using Demographic Variables to Determine Segment Membership in Logit Mixture Models 1993A Repeated Nested‐Logit Model of Atlantic Salmon Fishing 1990On Approximating the Statistical Properties of Elasticities: A Correction 2000Investigating Preference Heterogeneity in a Repeated Discrete-Choice Recreation Demand Model of Atlantic Salmon Fishing

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