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Recreation Demand Factor Indices: A Principal Components Analysis

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  • Liao, Chih-Chien
  • Houston, Jack E., Jr.
  • Bergstrom, John C.

Abstract

Principal components analysis may reduce multicollinearity problems common to recreation demand equations. In this analysis, principal components is used to construct indices accounting for the effects of site quality and socioeconomic variables on outdoor recreation demand. These indices provide theoretically consistent and statistically significant demand shift regressors for estimated demand functions.

Suggested Citation

  • Liao, Chih-Chien & Houston, Jack E., Jr. & Bergstrom, John C., 1989. "Recreation Demand Factor Indices: A Principal Components Analysis," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270497, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea89:270497
    DOI: 10.22004/ag.econ.270497
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    References listed on IDEAS

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    1. Christine Seller & John R. Stoll & Jean-Paul Chavas, 1985. "Validation of Empirical Measures of Welfare Change: A Comparison of Nonmarket Techniques," Land Economics, University of Wisconsin Press, vol. 62(2), pages 156-175.
    2. Burt, Oscar R & Brewer, Durward, 1971. "Estimation of Net Social Benefits from Outdoor Recreation," Econometrica, Econometric Society, vol. 39(5), pages 813-827, September.
    3. Rod F. Ziemer & Wesley N. Musser & R. Carter Hill, 1980. "Recreation Demand Equations: Functional Form and Consumer Surplus," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(1), pages 136-141.
    4. Ward, Frank A. & Loomis, John B., 1986. "The Travel Cost Demand Model As An Environmental Policy Assessment Tool: A Review Of Literature," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 11(2), pages 1-15, December.
    5. Kenneth E. McConnell, 1975. "Some Problems in Estimating the Demand for Outdoor Recreation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(2), pages 330-334.
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