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Expenditure-Based Segmentation: Application of Quantile Regression to Analyse the Travel Expenditures of Baby Boomer Households

Author

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  • Hsiao-I Kuo

    (Department of Golden-Ager Industry Management, Chaoyang University of Technology, Taichung 41349, Taiwan)

  • Ching-Lung Lu

    (Department of Tourism and Hospitality, Taipei Chengshih University of Science and Technology, Taipei, Taiwan)

Abstract

The substantial size of the senior worldwide population and its demands have drawn considerable attention, making it the ‘silver economy’ or ‘senior’ market. Baby boomers, those born in the years after the Second World War, or more typically between 1946 and 1964, are the specific focus of this research interest. This paper estimates the determinants of travel expenditures in baby boomer senior households in Taiwan. The traditional ordinary least squares (OLS) approach, combined with quantile regression analysis, is adopted to capture both the mean and quantile behaviours of travel expenditures in baby boomer households, using the 2008 Survey of Family Income and Expenditure (SFIE) in Taiwan. The OLS model is used to obtain the average (mean) expenditure behaviour, whereas quantile regression analysis captures the extreme behaviours of the two tails of travel expenditures in baby boomer households. The estimation outcomes have important policy implications for travel marketers and operators in the tourism industry who seek to understand baby boomer senior consumers.

Suggested Citation

  • Hsiao-I Kuo & Ching-Lung Lu, 2013. "Expenditure-Based Segmentation: Application of Quantile Regression to Analyse the Travel Expenditures of Baby Boomer Households," Tourism Economics, , vol. 19(6), pages 1429-1441, December.
    • Handle: RePEc:sae:toueco:v:19:y:2013:i:6:p:1429-1441
    DOI: 10.5367/te.2013.0268
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    References listed on IDEAS

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    1. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
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    Cited by:

    1. Martin Falk & Eva Hagsten, 2014. "Output growth and prices of establishments in the Swedish lodging industry," ERSA conference papers ersa14p360, European Regional Science Association.
    2. Lin, Vera Shanshan & Mao, Rui & Song, Haiyan, 2015. "Tourism expenditure patterns in China," Annals of Tourism Research, Elsevier, vol. 54(C), pages 100-117.
    3. Chia-Yu Yeh & Kang Ernest Liu, 2019. "Modeling Household Participation Decisions Between Domestic And International Trips By Semi-Nonparametric Regressions," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(01), pages 191-211, March.
    4. António Almeida & Brian Garrod, 2017. "Insights from analysing tourist expenditure using quantile regression," Tourism Economics, , vol. 23(5), pages 1138-1145, August.
    5. Losada, Nieves & Alén, Elisa & Domínguez, Trinidad & Nicolau, Juan Luis, 2016. "Travel frequency of seniors tourists," Tourism Management, Elsevier, vol. 53(C), pages 88-95.

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