A Triple Hurdle Expenditure Analysis of U.S. Saltwater Recreational FishingJournal: Journal of Economics and Business (Vol.2, No. 1)
Publication Date: 2019-03-30
Authors : Yeong Nain Chi;
Page : 73-84
Keywords : Saltwater Recreational Fishing; Participation; Expenditures; Tobit Model; Triple Hurdle Model;
This study used cross-sectional data extracted from the 2011 National Survey of Fishing, Hunting, and Wildlife-Associated Recreation to analyze individual trip-related expenditures associated with saltwater recreational fishing in the United States. Based on the utility maximization framework in the triple hurdle model, all observations can be used to estimate a participant's final decision for saltwater recreational fishing. Positive observations that are simultaneously passed down the participation and consumption decisions can be used for estimation based on a censored and truncated sample, allowing for richer interpretation of saltwater recreational angler behavior. Empirical results (income, age, gender, ethnicity, urban setting, fishing license, fishing on a boat, fish types) showed significant effects on U.S. saltwater recreational fishing trip-related expenditures. The results of this study can provide insight into the determinants of U.S. saltwater recreational fishing trip-related expenditures, which can be used for saltwater recreational fisheries management and policy.
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