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Demand and welfare effects in recreational travel models: Accounting for substitution between number of trips and days to stay

In English

Författare

Summary, in English

In this paper we present a non-linear demand system for households' joint choice of number of trips and days to spend at a destination. The approach, which facilitates welfare analysis of exogenous policy and price changes, is used empirically to study the effects of an increased CO2 tax. In particular, we focus on the effect of including substitution between households choice of the number of trips and days to spend at a destination in the welfare analysis. The analysis reveals that the equivalent variation (EV) measure, for the count data demand system, can be seen as an upper bound for the households welfare loss. Approximating the welfare loss by the change in consumer surplus, accounting for the positive effect from longer stays, imposes a lower bound on the households welfare loss. The difference in the estimated loss measures, from the considered CO2 tax reform, is about 20%. This emphasizes the importance of accounting for substitutions toward longer stays in travel demand policy evaluations. (C) 2011 Elsevier Ltd. All rights reserved.

Publiceringsår

2012

Språk

Engelska

Sidor

446-456

Publikation/Tidskrift/Serie

Transportation Research. Part A: Policy & Practice

Volym

46

Issue

3

Dokumenttyp

Artikel i tidskrift

Förlag

Elsevier

Ämne

  • Economics

Nyckelord

  • Demand analysis
  • Welfare effects
  • Count data
  • Bivariate zero inflation

Status

Published

ISBN/ISSN/Övrigt

  • ISSN: 0965-8564